diff --git a/www/conservancy/static/members/apply/index.html b/www/conservancy/static/members/apply/index.html index bc798b94754e8fab89ae1e6e750950791641a1bd..feb4bb28b76248c4dc0e30c0b0209a291d77f261 100644 --- a/www/conservancy/static/members/apply/index.html +++ b/www/conservancy/static/members/apply/index.html @@ -149,7 +149,9 @@ 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.+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.
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