At Thu, 06 Sep 2012 16:32:41 -0400, <mag...@yonderway.com> wrote: > > > > On Thu, 06 Sep 2012 14:15:48 -0600, Ken Gunderson <kgund...@teamcool.net> > wrote: > > > Doesn't need to be a "C" corp. Keep it simple. Maybe an LLC or "S" > > corp? > > Not if you want to accept tax-deductible donations. > > The cliff's notes: http://en.wikipedia.org/wiki/501(c) > > A 501(c)(3) may or may not be the right way to go. It's the kind of > corporation that is attractive for people and corporations (and other > Foundations, potentially) to make tax-deductible donations to. But there > are responsibilities involved with keeping it going.
To be clear, I was not advocating for a 501, as I don't think that in OI's case such would qualify for tax deductible donations anyhow. What such could achieve is tax exemption for the monies taken in by the Foundation. And you're correct that such entails much administrative overhead, outside audits, etc. But we don't have to do this in the US where capitalists are so greedy.... Anybody somewhere else in the world have any suggestions? OTOH, I know some folks running 501's on a shoestring (1 person) so it is doable. _______________________________________________ oi-dev mailing list oi-dev@openindiana.org http://openindiana.org/mailman/listinfo/oi-dev
