[drupal-devel] Re: Drupal foundation
chris at tinpixel.com
Wed Mar 2 18:34:26 UTC 2005
Boris Mann wrote:
> On Tue, 01 Mar 2005 13:57:51 +0000, Vladimir Zlatanov <vlado at dikini.net> wrote:
>>Tax deductions are good, but not the only thing which matters.
>>Things that matter IMHO are:
> Vlado makes a good point, and I think that is how we should approach
> the construction of a foundation. What do we need it to do? As I see
> it, there are actually only 3 things that are absolutely required, and
> everything else comes down to support functions.
> * have legal standing as some sort of entity which can do things (like own
> * be able to receive money (i.e. open a bank account)
> * pay out money
> While some sort of "foundation" would be a nice-to-have, I think a
> structure that handles those items would be a good start. Donations
> and tax-exempt status are additional issues.
Perhaps the thing to do is create a central, top-level entity that can do
those 3 things above (legal standing, receive money, pay money) first.
Then it might actually be much easier to create national tax-deductible
foundations which are member organizations of that top level entity. The
national organizations can pass donations up to the global entity as
legitimate charitable organization expenses. At least, such a scheme would
work in the U.S.
Eventually if we get "wealthy" enough we can afford to pay an expert to tell
us how to become a worldwide charitable foundation.
I'm currently the president of the board of a U.S. 501(c)3 tax-deductible
charity, so am familiar with that piece anyway.
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