Key Largo Community Preservation Foundation was created in 2008 as a vehicle to establish a public events venue, and to be eligible for grant funding for public events and other projects through the National Scenic Byways Program.
With the knowledge that U.S. 1 was up for All-American Road (AAR) status – the highest scenic highway designation in the nation – we wanted to be in a position to take advantage of the millions of dollars that are available through that program for improvements that “enhance the visitor experience.”
Only 501(c)3’s – charitable nonprofits – are eligible for this grant funding. Purchase of property and facilities construction and improvement are eligible categories, among others.
The AAR designation for U.S. 1 was granted in October 2009. One of the major benefits of this status is the unwritten understanding that grant applications by charitable nonprofits along the corridor would receive preferential consideration.
It took about 18 months, but with the assistance of attorney Russ Yagel, Hershoff Lupino & Yagel, and accountant Bill Andersen, Andersen Financial Services, the organization received our 501(c)3, IRS charitable nonprofit tax-exempt status on Feb. 5, 2010.