This is great! You guys rock!!!
I've been looking more closely at the Form 1023, and would like to be
helpful in whatever way makes the most sense.
For those who can't make it to the SELC legal cafés, I've attached a
mind map PDF of the core of business associations law - which includes
corporations, agency, and partnership. May not answer all your
questions, but I think it may be helpful in seeing how these things fit
together in context. I am going to work on one focused more on the
co-ops and non-profit structures we've been looking into, but am not
sure how long it will take me.
I'm also leaving some of the relevant law resources at Sudo Room if
people want to look up stuff on their own.
sent from
eddan.com
Also, I filed the articles of incorporation in
Sacramento today. We
should be incorporated Monday. I had to specify a specific purpose
for
our group. It can be modified later, but for now it says:
The specific purpose of this corporation is to promote, encourage and
facilitate the development and maintenance of free and open
community-operated telecommunications networks. In the context of
this
purpose, the corporation shall engage in scientific, charitable and
educational activities within the meaning of Section 501(c)(3) of the
Internal Revenue Code.
Total cost was $50. Well be able to open a bank account next week.
We now have 90 days of decide on an initial board of directors,
finalize the bylaws, hold our first board meeting and file a
statement
of information (another $20).
After we make the first deposit into our new bank account (receive
our
first funds) we have 30 days to get an employer identification number
and file an initial registration form (another $25).
After that, we can apply for tax exempt status (which is fairly
complicated) by filing Form 1023. Im spending some of my time reading
up on all of the requirements for tax exempt 501(c)(3) organizations.
There are definitely some gotchas with regard to paid employees and
sources of funding.