[oi-dev] is there a vector for donating to OI?

[Ken Gunderson]

At Thu, 06 Sep 2012 16:32:41 -0400,
<magnus at yonderway.com> wrote:
> 
> 
> 
> On Thu, 06 Sep 2012 14:15:48 -0600, Ken Gunderson <kgunders at teamcool.net>
> wrote:
> 
> > Doesn't need to be a "C" corp.  Keep it simple.  Maybe an LLC or "S"
> > corp?  
> 
> Not if you want to accept tax-deductible donations.
> 
> The cliff's notes: http://en.wikipedia.org/wiki/501(c)
> 
> A 501(c)(3) may or may not be the right way to go. It's the kind of
> corporation that is attractive for people and corporations (and other
> Foundations, potentially) to make tax-deductible donations to. But there
> are responsibilities involved with keeping it going.

To be clear, I was not advocating for a 501, as I don't think that in
 OI's case such would qualify for tax deductible donations anyhow.
 What such could achieve is tax exemption for the monies taken in by
 the Foundation.  And you're correct that such entails much
 administrative overhead, outside audits, etc.  But we don't have to
 do this in the US where capitalists are so greedy....  Anybody
 somewhere else in the world have any suggestions?  OTOH, I know some
 folks running 501's on a shoestring (1 person) so it is doable.