[sudo-discuss] Notes from Meeting With Potential Sudo Lawyer

[Phil Wolff]

Is there a friendly 501c3 org that would let us operate under their tax
exempt status until we're incorporated and IRS-blessed? Six months to a
year?

I've seen this done properly elsewhere when new projects were starting and
were part of an ecosystem of more established orgs. The umbrella org has
the CPA and bank account for collecting grant money and other donations.
The "client" organization paid a tiny fee to the parent for processing. The
new org would describe themselves as "New Org, a project of Old Org, a
501(c)3 not-for-profit."


Phil Wolff

pwolff at gmail.com
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+1-510-343-5664

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On Wed, Dec 17, 2014 at 6:00 PM, Maximilian Klein <isalix at gmail.com> wrote:
>
> 1) Do we even really need 501c3? 501c3 is a means to an end. The benefit
> is that large institutions wont donate or grant to us without it. The
> downside is that it will cost several hundred dollars and is a PITA from a
> effort point of view. Smaller institutions can donate to us and get their
> donations tax exempted as long as they do, (and they can) argue that we are
> in spirit a non-profit. So we should only get 501c3, if we think other
> umbrellas aren't easier, and we see big donations coming in later.
>
> 1a) we need to determine the probability of getting such a donation from a
> large instituion in the next year
>
> 2) Incorporating. It's not enough to just file papers because in a pinch
> if we do not act and do all our board meeting officiating properly we could
> be dismissed as a farce of a incorporation.
>
> 3) changing the articles of incorporation has to happen in sacramento and
> is expensive and slow. it's easier to edit the by laws if possible.
>
> 4) we need to make records whenever the board of directors issues
> dirctives, however small.
>
> 5) if we ever became so attached to the omni that it would break sudo
> spiritually or financially to move out then we need to get a formal
> contract with omni.
>
> 6) the IRS is allergic to nonprofits that use certain words like "tea
> party" and surprisingly "open source" because they've been burned by those
> types before.
>
> 7) treasurer does not have heightened financially responsibility than
> anyone else on the board.
>
> Make a great day,
> Max Klein ‽ http://notconfusing.com/
>
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