Denali Chamber Economic Development Proposal - Flipbook - Page 27
Creating a 501c3
Economic Development
Foundation
A 501(c)(3) economic development foundation plays
a crucial role in fostering growth, stability, and
prosperity within a community or region. These taxexempt organizations are dedicated to promoting
economic well-being through various initiatives and
programs. Here, we'll explore in detail how a
501(c)(3) economic development foundation can be
used to benefit a community or region.
Business Incubation and Support: A 501(c)(3)
economic development foundation can establish
and operate business incubators to nurture
startups and small enterprises. These
incubators provide entrepreneurs with
affordable office space, mentorship, access to
resources, and networking opportunities,
helping them grow and create jobs.