[WikiEN-l] Announcing Wikimedia Foundation

[Ray Saintonge]

Alex T. wrote:

>I had previously suggested that legal advice (or at least
>a not-for-profit accountant) should be obtained for
>filing the 1023 for 501(c)(3) status. 
>
I'm sure that we have enough smart people to figure this out.  The 
possible problem may be with having a single donor footing all the 
bills.  We need to make some decisions regarding the corporate structure 
of the foundation.

>I would also like
>to point out (as I have before on Meta Wikipedia)
>that it is not necessary to file if the organization's donations
>are under $5,000.  Thus if you wish to announce donations
>you can accept them if they are under a certain amount.
>
The $5,000 floor is convenient in the short run, and I would be 
surprised if we get that much during 2003.

>
>I would also urge you to look into filing with the necessary
>state authorities regarding charitable contributions some states
>have made these rules rather tough.
>
This may be moot since Florida does not have a state personal income tax.

>There is also a grace period for filing the 1023 
>that can be extended for a variety of reasons. 
>
Of course, so we don't need to rush.

>I cannot
>stress to much that seeking legal advice (even pro bono which is what
>I offered and no one has taken me up on) is a good thing
>as MANY groups are refused tax exempt status due to the
>fact that they have not checked the various IRS rulings and
>have drafted a corporate charter/certificates without the proper
>exempt purposes or correct recitials regarding termination
>transfers, etc..  
>
What are you suggesting might be the potential difficulties in this case?

Eclecticology