From e2c60c5c6eca93937f33f41d1b6cf4c8b85e9968 2011-01-01 16:31:34
From: Bradley M. Kuhn
Similarly, any copyrights, trademarks, domain name or other assets transferred to a project can also be held by the Conservancy on behalf of @@ -164,13 +166,13 @@ it is an option for those projects that ask for it.
All agreements between member projects and the Conservancy stipulate -clearly that the member project can leave the Conservancy at any time. -Federal tax exemption law, though, states that projects must transfer -their assets from the Conservancy in a way that is consistent with the -Conservancy's not-for-profit tax status — meaning the assets cannot -be transferred to an individual or a for-profit entity. Generally, a -project would either find another fiscal sponsor or form their own -independent tax-exempt non-profit.
+clearly that the member project can leave the Conservancy with a few +months' notice. Federal tax exemption law, though, states that projects +must transfer their assets from the Conservancy in a way that is +consistent with the Conservancy's not-for-profit tax status — +meaning the assets cannot be transferred to an individual or a for-profit +entity. Generally, a project would either find another fiscal sponsor or +form their own independent tax-exempt non-profit.We fully expect that some Conservancy projects will ultimately wish to form their own non-profit 501(c)(3) organizations; that's why we design