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Turbo Global Partners Announces Acquisition of Alpha Life Foundation, Inc.
Turbo Global Partners Announces Acquisition of Alpha Life Foundation, Inc..
About this update from Turbo Global Partners Inc
[{"type":"text","content":"\n\n CARSON CITY, NV, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Turbo Global Partners (TRBO) (OTC PINK: TRBO), has announced the acquisition of Alpha Life Foundation, Inc. (ALPHA) a California 501 (c) (3) domestic nonprofit.   The terms of the acquisition were not disclosed.\n “This is yet again an exciting milestone for TRBO,” states Robert W. Singerman, TRBO’s Chairman & CEO. He continues, “In our pursuit to generate long-term renewable predictable cash-flow for ourselves and clients, the acquisition of ALPHA fits our strategy of tactical acquisitions that can maximize the marketing synergies of TRBO.”  Henry Marx, ALPHA’s CEO says, “As a wholly-owned subsidiary of TRBO, we will be able to access the world-class storytelling within the TRBO marketing offerings to catapult our reach to the next level and better showcase our work, which since 2000, has spanned charitable giving initiatives from pets to cancer awareness, autism to community advocacy.” According to the Urban Institute (www.Urban.org) approximately 1.41 million nonprofits were registered with the Internal Revenue Service (IRS) in 2013, an increase of 2.8 percent from 2003.  The nonprofit sector contributed an estimated $905.9 billion to the US economy in 2013, composing 5.4 percent of the country’s gross domestic product (GDP).  Of the nonprofit organizations registered with IRS, 501 (c) (3) public charities accounted for just over three-quarters of the nonprofit sector’s revenue and expenses ($1.73 trillion and $1.62 trillion, respectively) and more than three-fifths of nonprofit assets ($3.22 trillion) in 2013.  In 2014, total private giving from individuals, foundations, and businesses totaled $358.38 billion, an increase of just over 5 percent from 2013 after adjusting for inflation.  According to Giving USA (2015), total charitable giving rose for the fifth consecutive year in 2014.  After adjusting for inflation, this is the first year to exceed the previous peak set before the recession in 2007 ($355.16 billion in in 2014 dollars).  Singerman explains, “We already are innovators in the nonprofit sector with our portal www.OrgAmerica.org where currently we present two (2) web television telethons spotlighting ...