Post #81,402
2/13/03 11:41:30 AM
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I work for a 501c3 and have founded a 501c3/509a1
...so I have *lots* of questions.
For-profit vs non-profit. Why specifically should it be non-profit? To get grant money? Then, what's the purpose of that funding; to what aim does it go? Non-profit is going to be a real stickler about disbursing funds to members. Legal and economic issues will be resolved more easily if staff is separate from board which are both separate from membership. See more below. Keep in mind also that most grants require you to be in organized operation for 3 to 5 years before they'll consider you.
If non-profit, it would be difficult to keep it so, given the political nature of our activites, as I see them anyway. 501c was specifically created in such a way that organizations under it could not influence political races. You can try to rest on the attempt to always present both sides, but 1) we don't *always* disagree, and 2) we often have one-sided conversations.
If that hurdle is crossed, you need to talk about governance. Having every poster here be a founder is too much. You need an oversight body; you need at least three and I would recommend no more than six. Others can and should be members, and should IMO vote in the board, but that is not the same thing. You need a Chairman, a CFO, and at least one more.
Would we be a private foundation or a public charity? I assume private?
If all that is handled, I would strongly recommend we spend a bit of time thrashing out two things, before we incorporated. First, a mission statement; second, by-laws. I can see no reason to delay these until after incorporation, and plenty of reasons to write them before. You don't have to file your 1023 until at least 15 months after organization, and you can get a 12-month extension.
Many fears are born of stupidity and ignorance -
Which you should be feeding with rumour and generalisation.
BOfH, 2002 "Episode" 10
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Post #81,409
2/13/03 12:06:03 PM
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You convinced me
You can be the chairman.
How many lives per gallon?
--Sign outside of various churches
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Post #81,415
2/13/03 12:19:40 PM
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here is how I see the outline
All members here, from sleazyboard and IWE are invited in as founding members. We establish a charter (mission or statement of work) and bylaws that all members can agree on until the noise settles down as well as structure, CFO Chair Board and staff consisting of only Jason, Scott and Wade and Peter at present(I think they are managing things now here). Once we have the above setup we then do the paperwork. We will not be a charity, I am thinking along the lines of thinktank [link|http://www.independentsector.org/pathfinder/resources/think/rand_corp.html|http://www.independe...nk/rand_corp.html]
as opposed to sheer political baiting. We could do that also but would need to be a for profit enerprise which means paying taxes and filing tax returns. Jesse doesnt pay taxes on what he gets in the door, why should we? On the other hand if we wanted to be commentators as opposed to researchers we could do that.
thanx,
bill
will work for cash and other incentives [link|http://home.tampabay.rr.com/boxley/resume/Resume.html|skill set]
questions, help? [link|mailto:pappas@catholic.org|email pappas at catholic.org]
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Post #81,440
2/13/03 1:07:53 PM
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Coupla points
1) RAND does far more actual number-crunching than I think we're willing to get into here. But I'm willing to hear otherwise from someone who says, "I *want* to do statistical analysis for this project." Unfortunately for your IRS review letter, you have to allow yourself to be pigeonholed, so if we dodge the political bullet, what are we? Rand says, "RAND Corporation seeks to strengthen the nation's economy, maintain national security, and improve the quality of life in the United States." IOW, they are either gunning for the 501c4 (social welfare org), or they see themselves as charitable 501c3. They declare 501c3 on their docs, btw. "Charitable" includes: - Relief of the poor
- Advancement of education or science
- Lessening the burdens of government
- Elimination of prejudice
- Defense of human or civil rights
So as long as we can show we are formed to be beneficial to the public interest, we would be a charity. You don't have to be a public charity, you can be a private foundation and still be a charitable org. 2) If you normally have gross receipts under $5000/yr, you don't have to file jack and you can call yourself whatever you want. So to me the decision would be between no-income-total-freedom, and high-income-high-responsibility.
Many fears are born of stupidity and ignorance -
Which you should be feeding with rumour and generalisation.
BOfH, 2002 "Episode" 10
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Post #81,447
2/13/03 1:35:18 PM
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For under $5000/year
We could more than pay for a nice box (amortized over 3 years) and a pipe to put it on. And probably a junket or two. If nothing else, someone should be able to write off the cost of hosting all this. (Nudge ... Jason)
===
Microsoft offers them the one thing most business people will pay any price for - the ability to say "we had no choice - everyone's doing it that way." -- [link|http://z.iwethey.org/forums/render/content/show?contentid=38978|Andrew Grygus]
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Post #81,458
2/13/03 2:04:54 PM
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Note on hosting:
At the end of this month, we will more than likely NOT be hosted at Jason's any longer. The cost is too much for him, and he has other considerations in his life that prevent him from having the time and inclination to continue hosting us.
Just a heads-up. I'm currently working on alternatives with a few people off-line.
Regards,
-scott anderson
"Welcome to Rivendell, Mr. Anderson..."
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Post #81,451
2/13/03 1:43:24 PM
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If anyone's interested in my sources
Most of the preceding post is from [link|http://www.irs.gov/pub/irs-pdf/p557.pdf|IRS Pub 557 (PDF)]. Recommend you read it, box, and anyone else who's interested in (perhaps) defining ourselves tax-wise.
Many fears are born of stupidity and ignorance -
Which you should be feeding with rumour and generalisation.
BOfH, 2002 "Episode" 10
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Post #81,602
2/14/03 1:11:23 AM
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I'm in. And I have a question.
I'll preface w/saying I don't really know what I'm talking about. But, isn't FAIR a 501c? Maybe another subsection, but imho it might be beneficial to see how FAIR is set up.
Just my 2,
bcnu,
Mikem
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Post #81,685
2/14/03 12:43:41 PM
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I would think so, but Google won't say.
Many fears are born of stupidity and ignorance -
Which you should be feeding with rumour and generalisation.
BOfH, 2002 "Episode" 10
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Post #81,552
2/13/03 9:35:47 PM
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That raises an interesting point.
Peter and I at least are not US citizens nor US residents and we don't pay US taxes, either. Well, at least I know I don't. :-) I don't know how the Australian Tax Laws work* if I were a member of a foreign board; which means how US corporations laws work for the reverse must also be considered.
Wade.
* actually, I've got a general idea, because I see (and skip) those questions every year on my Tax Return.
Is it enough to love
Is it enough to breathe
Somebody rip my heart out
And leave me here to bleed
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Is it enough to die
Somebody save my life
I'd rather be Anything but Ordinary
Please
| -- "Anything but Ordinary" by Avril Lavigne. |
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Post #81,562
2/13/03 10:12:39 PM
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Enron did it all the time
will work for cash and other incentives [link|http://home.tampabay.rr.com/boxley/resume/Resume.html|skill set]
questions, help? [link|mailto:pappas@catholic.org|email pappas at catholic.org]
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Post #81,683
2/14/03 12:35:44 PM
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Well, elect not to be on the board then :)
Many fears are born of stupidity and ignorance -
Which you should be feeding with rumour and generalisation.
BOfH, 2002 "Episode" 10
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