On Fri, 17 Oct 2003 08:15:49 +0000, Tony Firshman <[EMAIL PROTECTED]> wrote:
On Thu, 16 Oct 2003 at 21:46:27, Timothy Swenson wrote: (ref: <[EMAIL PROTECTED]>)
I've sort of been following the discussion of the SMSQ/E license (yet again).So have I, but a great deal of the discussion seems to expand exponentially, with each point being replied to and re-replied etc. I simply lose track (and don't actually have the time to read and understand everything)I understand the viewpoints of both sides, but I think the practical side is not being seen. <snip> Maybe our best bet for the future is to create a non-profit for the future of SMSQ/E.I haven't come across this presumably American term. Is this a direct equivalent of a UK charity?
Not really. The differences are subtle but they are there.
A charity is (usually a not-for profit) but a not-for-profit is not necessarily a charity.
Ie: The "United Way" is a charity. The "COBOL Working Group" isn't although both are (theoretically) not-for-profit.
The simplest distinction would be that a charity deals with money (as it is to fund some charitable activity) while a non-charity doesn't (Of course there are monetary exchanges but the purpose is different). Ie. The charity will raise money for distribution to a cause and operating expenses while a non-charity will only do so for operating expenses.
Another difference is that a non-charity N-F-P purpose is usually the dissemination of goodwill while a charity is the dissemination of money (either directly or indirectly)
Other examples of Not For Profit (but not charities) would be: The GreenPeace, Professional Associations (ie The Guild of Thieves? -Ed.) :-)
Proceeds from the sale of SMSQ/E would be directed to fund further development. Granted TT would not be getting compensated, but he could feel comfortable knowing that his work is going to a good cause. A board could be formed with both developers and resellers. Donations could be made to the cause and be tax deductible.This is certainly the case for a UK charity. We have 'gift aid' which makes tax free gifts very easy. In addition, for those on higher tax rates (not me (8-)# ) they can also claim the difference in gift aid relief (20% I think) and higher rate as a personal refund - which then can itself be donated via gift aid. Sounds like there are recursion possibilities here!
Not for profits (at least in Greece that I know of) do not incur tax deductions while charities are. In the US both do however.
Phoebus
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