If you spend your time investigating haunting-type phenomena, UFO sightings, etc., your peers may think you’re nuts. The IRS, on the other hand, may look far more favorably on your activities.
Take ParaNexus Anomalous Research Inc., for example.
The group announced recently that the IRS approved its application for 501(c)(3) tax-exempt status.
ParaNexus’ status means it can now apply for grants and other funding and treat any public donations as tax deductible.
So what’s next for the group? According to founder and executive director Doug Kelley, the group plans to “acquire the necessary funding to establish a training and research center from which we can study a variety of anomalous and paranormal phenomena in an objective and scientific manner.”
Some examples of the types of organizations that fall under the 501(c)(3) tax-exempt status include: Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations.