Changeset - e2c60c5c6eca
[Not reviewed]
0 1 0
Bradley Kuhn (bkuhn) - 12 years ago 2011-01-01 16:31:34
bkuhn@ebb.org
Added minor clarification to spending funds.
1 file changed with 10 insertions and 8 deletions:
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www/conservancy/static/members/apply/index.html
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@@ -146,13 +146,15 @@ project's leadership.  Funds received by the Conservancy on behalf of a
 
project are kept track of separately for each specific project and the
 
management of those funds is directed by the project.  For example, if a
 
donor wanted to contribute $100 to Project Foo, they would formally make
 
the donation to the Conservancy and identify Project Foo as the desired
 
project to support.  The Conservancy would then deposit the check and
 
earmark the funds for use by Project Foo.  Project Foo would then tell the
 
Conservancy how that money should be spent.</p>
 
Conservancy how that money should be spent.  As long as that expense is a
 
legitimate non-profit expense fitting with Conservancy's non-profit
 
  mission, Conservancy pays the expense on the Project's behalf.</p>
 

	
 
<p>Similarly, any copyrights, trademarks, domain name or other assets
 
transferred to a project can also be held by the Conservancy on behalf of
 
the project.  A significant service that the Conservancy provides its
 
members is a vehicle through which copyright ownership in the project can
 
be unified.  There are several advantages to having a consolidated
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@@ -161,19 +163,19 @@ and more effective.  However, copyright, trademark, and domain name
 
assignment is not a requirement in order to join the Conservancy, rather,
 
it is an option for those projects that ask for it.</p>
 

	
 
<h2>If our project joins, must it be a member project of Conservancy forever?</h2>
 

	
 
<p>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 &mdash; 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.</p>
 
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 &mdash;
 
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.</p>
 

	
 
<p>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
 
  our agreements with projects to allow them to leave to another 501(c)(3)
 
  organization.  Typically, projects join Conservancy because the project
 
  leaders don't want the burdens of running a non-profit themselves.
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