[Noisebridge-board] AMT donation

[rachel lyra hospodar]

NB using its 501c3 status for an AMT donation is pretty much the exact thing
that most orgs seek umbrella sponsor relationships for, and we have been
developing our model.  Fortunately I think that kelly has done a bunch of
work that makes tracking this in our records even possible, she would need
to confirm that it is possible.  The Tor project pays a percentage of its
donations (I think something like 5-10%) to noisebridge to cover the
overhead of the sponsorship. This is completely standard for this kind of
relationship and something I would expect to see here.

R.

mediumreality.com
On Sep 20, 2011 6:33 PM, "Rachel McConnell" <rachel at xtreme.com> wrote:
> Hi Mike,
>
> When we did the 501(c)(3) for Noisebridge, it took about 3 months
> overall. As you may be aware it is retroactive for a year, I believe
> from the approval date. This may be too late for Dan, I remember that
> donation and it was some time back.
>
> I'm forwarding this request to the Noisebridge board to see what they
> think. If Noisebridge can't do this for whatever reason, the only
> option I see is for Dan to take the donation on his next year's taxes.
> In that case it would be Dan loaning it to AMT instead of Noisebridge,
> until the tax-deductible status is finalized.
>
> Rachel
>
> On 9/20/11 11:52 AM, Mike Gittelsohn wrote:
>> Hi Rachel,
>>
>> Are you still involved with Noisebridge?
>> My friend Dan donated a bunch of stuff, including an Epson 9600 printer,
>> to Ace Monster Toys last year. He donated it on the assumption that AMT
>> would have its 501C3 status so he could take a tax deduction. Now Dan is
>> filing his taxes (due October 15). I remember discussing this with you
>> at one point, and you had the idea that the donation could be made to
>> Noisebridge, which would then loan the 9600 to AMT until we could get
>> the 501C3. Is that still possible?
>> Robbie says that the 501C3 application is in the hands of a law firm,
>> and that it should be filed within a few weeks, but he does not know how
>> long it takes to process by the IRS.
>>
>> Mike
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