February 11, 2015, Batesville, AR – Main Street Batesville has officially formed the Batesville Downtown Foundation, Inc. A letter dated 21 January 2015 from the Internal Revenue Service informed the Foundation’s Board of Trustees that its application for the 501 (c) (3) status had been approved. This means that any individual’s donation to the Foundation can be itemized on the proper IRS form making it federal-tax exempt.
The Foundation was formed to provide the sustainability needed to ensure that the work being done to revitalize and preserve the downtown is continued. It will assist in raising funds to be disbursed to elements of downtown that are part of this effort. The Board will meet soon to plan the approach that it will adopt to carry out the stated purposes of the Foundation. It is anticipated that the Foundation will have brochures and printed material available for its use shortly. This material will make it possible for the board to contact individuals and organizations that are interested in the revitalization and preservation of the downtown business district. Opportunities for endowments relating to the Foundation’s purpose will be made available. Persons desiring to have their legacy ensured with an endowment for a project downtown will now have that opportunity
The year’s effort was taken up by creating, editing and rewriting the Foundation By-laws; defining the “Downtown” area; selecting the Foundation Board of Trustees; having the Articles of Incorporation approved by the state of Arkansas; creating the various forms needed for the Foundation; writing, editing and rewriting the extensive application form required by the IRS; and responding to questions posed by the IRS.
The By-laws require that at least four (4) members of the twelve (12) member board be residents outside of the city of Batesville and within Independence County. There actually are six (6) members that met that criterion.
Board members are: Ron Autry (county); Phil Baldwin (county); Tracy Baxter; Richard Black; Bob Carius (county – President); Pat Jones (Vice President); Renee Long; John Richardson (county); Robb Roberts; David Wilkins (Treasurer); Rita Wilson (county); and Dennis Wright (county-Secretary). Pre-approval secretary (Jennette Duke); Legal advisor (Steve Bell); Financial advisors (Robin Brock and Boris Dover)
