Currently, the Vincent Bernard Lopez Memorial Foundation is approved as a not-for-profit corporation in the state of Colorado. Final approval of our 501(c)3 status will come when we are given a federal tax identification number that will allow us to collect tax deductible donations. Until that time, we are developing our infrastructure and gaining momentum in order to be functionally operational when we receive our tax identification number.
The V.B.L.M. Foundation Leadership is focused on establishing the most effective and successful foundation possible. In order to begin the development process, the Foundation needs a strong base of participation. We have already received a generous donation from Nancy Lopez, Vince's mother, allowing us to have an operating budget as we develop in these early stages. Her generous gift is the first step toward achieving our goals. We must take this first step with her through the sacrifice of our resources. With our active participation, the V.B.L.M. Foundation can develop effective, energized, and efficient strategies.
The Foundation's current leadership is working diligently to see that the V.B.L.M. Foundation becomes a reality. We are asking you to join us and share your time, talents, and resources. The foundation needs a Board of Directors and active members to participate in the development and decision-making. Nancy Lopez and Vincent Lopez Sr. have already been named honorary chairmen, and we encourage you to serve alongside us as we grow and develop our mission.
By sharing your contact information, we will be able to establish communication for all those interested in participating in the Foundation. This information will not be shared with other organizations or individuals outside of the Vincent Bernard Lopez Memorial Foundation. You will be continually updated as the foundation grows and begins to achieve major milestones.
In order for the Vincent Bernard Lopez Memorial Foundation to be successful in these early stages we need your input and participation. the possibilities from here are endless. Our short-term goals include: developing a business infrastructure within the year, providing research funding within one year, and selecting an individual to provide him or her with a Campership within two years. Our long-term goals include: establishment of an endowment fund, development of a web site, development of effective fundraising, and continued growth of the Foundation in all its aspects.
In the event that the Foundation does not get off the ground, all funds that have been collected will be given to the John Austin Cheley Foundation, an organization whose purpose is to provide camperships, and to a cancer research fund. We are very thankful to the John Austin Cheley Foundation in providing its support and guidance as we have begun this process and we look forward to maintaining a healthy working relationship in the future. We would also like to give special thanks to the Cheley family for providing so many campers with the opportunity of a summer camp experience throughout the years. The Cheley spirit was a part of Vince's life and is certainly a driving force in this foundation.
We look forward to a bright future for this organization as it has great potential to achieve wonderful things. It is our hope that you will join us in remembering Vince by keeping his legacy alive in years to come.