After more than ten months, The Global Food and Drink Initiative is excited to announce that it was awarded its 501c3 federal income tax exemption status in February 2022. The nonprofit, founded in 2020 notes this as a gamechanger as it looks to expand its work that started with the publishing of Cuisine Noir in 2009.
“As a former for-profit Black-owned media company, the cards just kept staking against us as advertisers were spending less with Black-owned media companies, putting the small outlets like us at risk of either shutting down or being very strategic in how we continued to move forward with our publications. For us, it was becoming a media non-profit to be able to continue engaging advertisers and sponsors as well garner support from our readers. This status really is a game-changer as we can also expand on our mission and our offerings. I am very excited about our next chapter,” says V. Sheree Williams, executive director and publisher.
The Global Food and Drink Initiative’s effective date of exemption is August 10, 2020, when the organization was incorporated. With its new status, all donations are tax-exempt to the fullest extent of the law.
Williams says now it is time to work on the next stages of building the nonprofit, which includes expanding the team, which now includes freelancers in different parts of the world and most importantly, expanding the work to continue to amplify Black voices in food, drink and travel.
“We are just getting started, and I am excited to slowly release projects that we have been planning while we were waiting on our status. Now that we have it and the doors to so many opportunities for funding will open for us, we can continue impacting lives and be instrumental in bringing diversity, equity and inclusion to the food, drink and travel industries.”