Hi,
i think that this is a good proposal.
N.
ps. other t-shirt with other color?
> Recently we've been looking at what we can do to setup some kind of "non
> profit" structure around Mer.
>
> I reported to the Mer Advisory Board on this last friday.
>
> In the UK there are numerous options : charities, trusts, companies etc
> The most appropriate initial setup (minimising regulatory concerns) is an
> Unincorporated Association. This is not a discrete legal entity and cannot
> enter into contracts.
>
> It has no external constraints (such as regulatory, audits or an
> accountant), can setup bank accounts and can transform later into a
> Charitable Trust or the new Charitable Incorporated Organisation (CIO) or
> other legal entity.
>
> This lets us setup a bank account immediately which allows a better vehicle
> for donations and clearer fincancial reporting.
>
> Using Santander provides free international transfers into the account and
> 12 months of free banking. Other options offer permanent free banking but
> charge (eg £6/xfr, 3%) for incoming international transfers.
>
> I'll investigate paypal charges.
>
> To keep costs down normal financial operations may go via personal accounts
> - ie I'll pay Hetzner from my credit card.
>
> I have asked the board to approve that we setup an account with Santander
> for the Mer Project with David Greaves and Denise Greaves as signatories.
>
> In order to provide some tangible proof of intent it seems reasonable for us
> to sign a statement of the form:
>
> "We, the undersigned promise to act as trustees for the Mer Project in the
> matter of the bank account <account name/number/bank etc> and to adhere to
> decisions made by the Mer Project Advisory Board regarding dispersment of
> monies."
>
> We'd send a copy of this to Carsten for safekeeping.
>
> When it comes to financial reporting I suggest we share the detailed account
> information (ie copies of bank statements) in a secure manner (eg GPG
> encrypted email) with the AB and only share anonymised summaries at AB
> meetings.
>
> I think the project as a whole also need to come up with some statement on
> what donations may be used for and how we'll handle funds.
>
> Any comments or suggestions are welcome.
>
> David
