San Diego-based HSBCARES Receives 501(c)3 Tax Exempt Status to Become a Nationally Recognized Non-Profit
Partner to HSBCAMPS, Non-Profit to Award Camp Scholarships, Fund Basketball Programs and Supply Training Equipment to Public Schools and Programs

CARLSBAD, CA, May 19, 2010 /24-7PressRelease/ -- HSBCARES, Inc. is pleased to announce that it has received its Letter of Determination from the Internal Revenue Service, stating that its exempt from federal income tax under section 501(c)3 of the Internal Revenue Code. Founded by Carson Sofro, a former collegiate basketball star, it is the mission of HSBCARES to award camp scholarships, support basketball programs for disabled and underprivileged youth, and provide public schools and programs with vital training equipment. Last year, scholarships through the HSBCARES fund were awarded totaling $20,000. This year, the non-profit will award over 100 full and partial scholarships to underprivileged youth.

HSBCARES is a partner of HSBCAMPS, America's fastest growing youth basketball program bringing boys and girls face-to-face with the pros. Established in eight cities in the western United States, $5 of every HSBCAMPS registration is donated to the HSBCARES fund. With more than $30,000 raised to date, HSBCAMPS and HSBCARES stand firm in their commitment to provide every child, regardless of age or income, with an opportunity to attend camp.

"I want to thank our generous partners for getting behind our cause from the start and helping us to achieve our official non-profit status," said Carson Sofro, founder/director, HSBCAMPS and HSBCARES. "The funds we have raised to date have helped children attend camp and have access to programs and equipment that they would not otherwise be able to afford. To us, basketball is not just a game or after-school activity; it is a vessel for building confidence, character, and an appreciation for hard work and teamwork, both on and off the court."

HSBCARES and HSBCAMPS have also formed numerous partnerships with organizations domestically and abroad, including Hoops 4 Hope of South Africa, Baden Sports, Inc., BodyBuilding.com, Swire Coca-Cola , Boys & Girls Clubs of Greater Scottsdale, the Homecourt YMCA (Meridian, ID), and Stretch-n-Grow of Utah, Inc. For more information about HSBCARES and to apply for a camp scholarship, visit http://www.hsbcamps.com/hsbcares. To read a letter from a child that was able to attend camp through the HSBCARES fund, visit http://www.hsbcamps.com/pdf/HSBCamps_ChildsLetter.pdf.

Press Release Contact Information:

Caroline Callaway
Bolt Public Relations
Media Relations Specialist
2888 Loker Avenue East, Suite 209
Carlsbad, CA
U.S.A. 92010
Voice: (760) 918-0792
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