[Foundation-l] Mission & Vision statement updated
thomas.dalton at gmail.com
Thu Apr 26 16:17:06 UTC 2007
> > Just a quick point here: the Foundation may not change its mission statement
> > without an official determination letter from the IRS.
> Can you please provide us with the law or regulation which says this?
> Can you also let us know the methods by which one can obtain such a
> determination letter? Are you saying an entirely new Form 1023 has to
> be submitted?
I don't know the details, but it is common sense that such a law
exists. I can't found a charity to help cure cancer, get lots of
donations, and then change the charity to one that provides caviare to
aristocrats. Once you start accepting public donations, you have to
spend those donations on what you said you would spend them on.
I don't know if the changes that have been made are significant enough
to be a problem, but it is certainly something that requires talking
to a lawyer.
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