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On Wed, Dec 07, 2016 at 03:24:05PM -0500, james wrote: |
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> I think gentoo is under a social contract limits our use options to |
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> FOSS accounting packages. Perhaps someone more knowledgable with itemize |
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> the restrictions gentoo is under for it's 501(c)3 needs. |
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We've a (c)(6), not a (c)(3). |
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> Here's a shocker from an IRS doc:: |
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This is not a shock, and has been known and discussed by the Foundation |
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trustees for many many years. |
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> "The organization must not be organized or operated for the benefit of |
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> private interests" [1] That basically is a very general statement, open |
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> to vast interpretation; whether it's a problem for gentoo, remains to be |
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> seen. |
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The variation does apply for (c)(6), |
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The IRS does provide some insight: |
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https://www.irs.gov/pub/irs-tege/eotopick03.pdf |
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| IRC 501(c)(6) provides for exemption of business leagues, chambers of |
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| commerce, real estate boards, boards of trade, and professional football |
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| leagues (whether or not administering a pension fund for football |
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| players), which are not organized for profit and no part of the net earnings of |
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| which inures to the benefit of any private shareholder or individual. |
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Further reading aimed at (c)(3), but VERY relevant still: |
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https://www.irs.gov/pub/irs-tege/eotopicc90.pdf |
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This breaks down 'inures', 'benefit', 'private shareholder/individual'. |
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An excerpt regarding 'inures': |
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| (1) An individual is not entitled to unjustly enrich himself at the |
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| organization's expense. |
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| (2) Benefits directed to an individual as a member of a charitable class |
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| do not constitute unjust enrichment. |
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Includes citations of case law in both for and against judgements. |
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> I think someone more knowledgeable than myself should post the |
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> restrictions and guidance document reference, if any, that constrain and |
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> guide gentoo in matter of GAAP, 501(c)3 and it foundational |
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> organization, before an accounting packages is agreed up. Perhaps this |
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> just a good idea to vet |
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> how these critical charity records are maintained and disseminated. |
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> Some states may have additional statues and rules. |
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I've not yet run into statutes from New Mexico that apply to our |
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non-profit status, other than how to file in New Mexico, saying we must |
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comply with federal laws (and local bylaws if we have a physical |
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presence). |
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> The corporation papers were filed in Maryland, right? If not, what |
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> state where the papers filed in? |
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We are incorporated as non-profit in New Mexico, and HAVE maintained |
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annual state filings there appropriately. |
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-- |
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Robin Hugh Johnson |
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Gentoo Linux: Dev, Infra Lead, Foundation Trustee & Treasurer |
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E-Mail : robbat2@g.o |
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GnuPG FP : 11ACBA4F 4778E3F6 E4EDF38E B27B944E 34884E85 |
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GnuPG FP : 7D0B3CEB E9B85B1F 825BCECF EE05E6F6 A48F6136 |
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