One Project / Two Non-Profits
The HMB Sargassum Project is relying on both the non-profit corporations below to bring the barrier project to fruition:
Yucatán Environmental Foundation
YEF is the US based non-profit that collects tax deductible contributions for the manufacture and installation of a sargassum barrier. YEF also provides U.S. donors with the documentation required to claim a charitable tax deduction on income taxes paid to the IRS.
YEF can accept donations in any currency made by wire transfer, credit card/PayPal, and personal check. YEF holds all funds in dollars but will convert them to pesos for transfer the Mexican non-profit below for contracting and project management.
The donations made to YEF will be held in escrow until either:
- the full fundraising goal has been met and the funds can be transferred to EPA....OR
- it's determined that the fundraising goal has not been met by the drop dead date of 12/31/22 in which case YEF will guarantees refunds to all donors.
EcoProteccion Akumal, AC
EcoProteccion Akumal (EPA) is a Mexican non-profit established to handle project management and contracting in Mexico. EPA will conduct all business related to the manufacture, installation and ongoing operations of the HMB sargassum barrier. For the installation phase of the project, EPA will receive 100% of required funding thru YEF. In future years, the cost of ongoing maintenance expenses will be invoiced by EPA directly to the property owners already engaged in sargassum mitigation within the High Impact Zone (HIZ) of Half Moon Bay.