Yesterday I received notice from the IRS that the Upward Thought Foundation has been awarded 501c3 status, meaning donations to the foundation are tax deductible to the limits of applicable laws.
The language on the foundation's donation page will be changed with the next site update to reflect the approval.
Those who will not itemize deductions are still encouraged to donate directly up to the IRS annual gift limits, as direct donations are not subject to the payroll and income taxes that have to be paid on foundation money. See that above linked page for details.