[Foundation-l] Fundraising season launch
saintonge at telus.net
Wed Oct 11 07:02:03 UTC 2006
Erik Moeller wrote:
>On 10/10/06, daniwo59 at aol.com <daniwo59 at aol.com> wrote:
>>Will the money go to chapters or to the Foundation? Can the chapters
>>transfer money to the foundation if needed?
>This is a big open question. As I understand it, the current arrangement is:
>1) Most money goes directly to WMF.
>2) Chapters act as local fundraising agents, e.g. in Germany, where
>many people don't have credit cards, a bank transfer directly to the
>German chapter can be made. Some individuals might also choose to
>support a chapter instead of the WMF for other reasons.
>3) Some or all of the money raised through 2) (is supposed to) go back
>to the WMF.
>Is this correct? What is the precise status on 3)? My view is that
>chapters should retain a substantial amount of donations for local
>projects and infrastructure. How do we decide that amount? What is the
>best strategy for transferring funds to the WMF -- could royalties for
>the trademark/logo work?
National laws need to be considered. Under Canadian law maintaining
charitable status depends on spending a nearly all the money for
charitable purposes in the country. If we ever get to that stage
domestic projects should be considered. In some cases receiving
royalties as business income could be considered as taxable income.
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