On Mon, Aug 10, 2009 at 11:23 AM, Jay Litwyn<[email protected]> wrote: > "stevertigo" <[email protected]> wrote in message >> >> On Thu, Jul 30, 2009 at 3:14 PM, stevertigo<[email protected]> wrote: >>> It occurs to me that when people donate money to something, it is to >>> some degree with an expectation that the recipient entity grows to >>> eventually gain a certain kind of financial self-sufficiency. Is this >>> not also the case with Wikimedia and many charitable donations to it?
I normally expect this. > Carcharoth answered that question in October or November: can't do it for > reasons in 501(c) that give us tax advantages. For those tax advantages, we > forfeit our ability to acquire self-sustaining amounts of investment wealth; This is untrue. You can qualify as a publicly supported charity as long as 10% of total support/revenue comes from government funds and from public donations. (If over a third comes from government and public contributions, you're golden; but if you are clearly a publicly supported entity such as a library or educational institution, organized to 'attract new [government and public] support' you can get by with just 10%) http://www.irs.gov/pub/irs-pdf/p557.pdf (see p.29) We simply need to define a basic set of features and services that will be covered entirely by a self-sustaining foundation; and can raise further government and public funds to support new projects, R&D, creative PR or outreach schemes, or a print Wikipedia 1.0 in 1,296 volumes... SJ _______________________________________________ WikiEN-l mailing list [email protected] To unsubscribe from this mailing list, visit: https://lists.wikimedia.org/mailman/listinfo/wikien-l
