National Innovation Association announces that it has received a 501(c)(3) designation. The 501(c)(3) designation is a United States Internal Revenue Code which allows a nonprofit organization to be exempted from federal taxes. Organizations which are considered public charities or foundations can apply for this kind of exemption. This exemption is given by the Treasury Department through the Internal Revenue Service.
The organization, which describes itself as a group of marketers, engineers, entrepreneurs, innovators, makers and entrepreneurs qualifies for such an exemption based on its activities. National Innovation Association's mission is to unite innovation through connecting and providing opportunities to investors, entrepreneurs and small businesses. All this, according to the spokesperson, is meant to create companies which will in turn create jobs and help the economy to grow.
The NIA's primary mission is to improve innovation from its earliest stages. It assists innovators in thriving by gathering and making available all of the resources they will need to be successful. The National Innovation Association helps innovators network with each other and with experienced industry professionals. The association sponsors and manages multiple events to bring innovators together and help them succeed. In the course of the year and also running to next year, it has a lineup of activities scheduled. In February 2017, the NIA will be celebrating Black Inventors showing the contributions they are making to the economy as well as their role in job creation. February through April 2017 will see a number of events organized which are meant to inspire kids to invent. There is also a proposed Television Show dubbed Innovation Celebration with LuAnne Puett as Executive Director.
While announcing the activities which will be held by the NIA, the organization Executive Director, LuAnne Puett had this to say, “Innovators deserve to be celebrated and recognized for their contributions. We are here to celebrate, connect and create opportunities to help innovators monetize their ideas,” added Lu Anne.
While appreciating that innovators, makers and entrepreneurs play a great role in economic development and growth Lu Anne also recognized that guidance and mentorship is required. “Innovation can be a lonely path, we're here to offer guidance,” said Lu Anne.
NIA partners with many like-minded nonprofits to increase effectiveness; the nonprofits share information to understand innovation and improve it. They strongly advocate for innovators in Congress and elsewhere to create a favorable environment for innovation. With the granting of the 501(c)(3) designation, the NIA will now be in a position to fully participate in all its activities.
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