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speaking from some experience in dealing with freenode which is a 501c3, when it comes to large donations, it tends to present a lot of problems, especially if the donations are a regular thing. You can fail certain tests if the donation makes up so much of your incom, among other things. I don't really know all of the details behind it, but this particular topic came up a while back when I was talking to lilo about donations. |
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Carpaski is right, this is something I think should be braught up with a lawyer. |
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On Tue, 29 Jun 2004, Nicholas Jones wrote: |
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> Date: Tue, 29 Jun 2004 17:43:46 -0500 |
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> From: Nicholas Jones <carpaski@g.o> |
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> Reply-To: gentoo-trustees@l.g.o |
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> To: gentoo-trustees@l.g.o |
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> Subject: Re: [gentoo-trustees] Bylaws & 501(c)(3) filing |
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> |
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> |
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> > I thought we were filing for 501c6? |
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> > As I recall, that's what we were set up to do? |
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> |
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> That is what Daniel began the filings for, yes. |
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> |
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> c6 is a trade association, while c3 is a charity or something |
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> to that effect. The trade associate does not have any tax |
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> benefit for donations and thus doesn't lend to much interest |
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> in massive donations. The ability to write off a product at |
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> it's marketed price for tax purposes is nice. |
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> |
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> I believe the reasons Daniel stated for getting C6 as opposed |
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> to C3 was that it is more legitimate. There are a lot of filing |
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> for C3 status that are not legitimate, but do get approved |
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> even without being a for-charity association. |
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> |
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> Seeking more legal opinion on our chances of this is WELL |
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> worth the cost, in my opinion. We are _far_ more legitimate |
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> than many of the types of groups that are appoved of regularly. |
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> Strictly speaking, Gentoo isn't a charity, but if we are |
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> approved and don't pose a for the status to be removed |
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> from us, I don't see a problem with it. |
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> |
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> --NJ |
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> |
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> |
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-- |
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Gentoo Linux: dmwaters@g.o |
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http://www.gentoo.org |
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-- |
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