[sudo-discuss] [omni-discuss] Benefit Corporation?

[Torrie Fischer]

I guess my next question then is: what concrete goals, objectives, and 
roadblocks have been identified as far as an actual strategy goes?

On Friday, November 06, 2015 11:49:05 PM Laura Turiano wrote:
> That is exactly the kind of strategy we will have to employ to be able
> to maximize what we can make off the ballroom. As many activities as
> possible need to be justifiable as charitable so that we can sometimes
> have a big non-charitable event that brings in a lot of money.
> 
> On 11/6/15 10:25 PM, Torrie Fischer wrote:
> > I'd always been told that a non profit can sell things and rent out things
> > as long as its within the purpose as filed with a 501c3 application. The
> > Omni's (abridged) legal purpose is to educate, do science, fight
> > oppression, and operate property to facilitate that. If there's an A/V
> > group that wants to put on badass professional shows while simultaneously
> > /teaching/ people how to put on badass professional shows (like a
> > vocational school, for example), thats legit, right?
> > 
> > If not, could the purpose be legally amended to accommodate a new goal
> > somehow? "fostering oakland culture" or something just nebulous enough to
> > pass the IRS.
> > 
> > I'm not a tax lawyer, don't know any, and have not been party to what
> > sounds like a very thorough discussion group so I hope someone tells me
> > why I'm a fool.
> > 
> > On Friday, November 06, 2015 10:09:16 PM yar wrote:
> >> On Fri, Nov 6, 2015 at 9:00 PM, Torrie Fischer <tdfischer at hackerbots.net>
> > 
> > wrote:
> >>> Is not making money an implicit attribute of being a Non Profit or
> >>> something?
> >> 
> >> Sort of. You can make money, but most of it has to be from charitable
> >> donations. There's complicated math about exactly how much - at least
> >> 60%, but for large donations only the first $5k counts towards the
> >> total, it's based on a 4-year average, etc etc etc. The more
> >> non-charitable income you get, the more you have to worry about that
> >> stuff, and there's incentive to structure as much income as you can as
> >> "donations". The fundraising working group has been working for months
> >> on this, and the plan is for many member collectives to become
> >> fiscally sponsored by Omni, and all their members' payments to be
> >> called donations instead of dues. Most events that we do in the
> >> ballroom are educational, and collecting door money could fit into a
> >> donations framework pretty easily.
> >> 
> >> 
> >> _______________________________________________
> >> discuss mailing list
> >> discuss at lists.omnicommons.org
> >> https://omnicommons.org/lists/listinfo/discuss
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