The Pearl Foundation has been setup as a Nonprofit Corporation so that it may receive donations to build and maintain orphanages for Ethiopian children, as well as for children in need from all around the world.
The Pearl Foundation has been duly registered under US law, and will function as a nonprofit organization, which is "mandatory tax exempt" under IRS Code (Section 508). The Pearl Foundation is a fully legal nonprofit entity, capable of receiving any type of donation that it can attract. A receipt will be submitted to the donor for their tax purposes.
The Pearl Foundation has been given full non-profit status and license in the country of Ethiopia, which bestows upon it the right to legally act as an international global entity within that country. Local non-profit status will be obtained shortly.
A yearly audit by a contracted CPA firm will be performed to verify all of the donated income and expenditures of the Foundation. This will be primarily to clarify for the donors where their donations have been applied and exactly what parts of the project they have benefited. This information will also be made public once a year and on demand.
