[Noisebridge-discuss] Insurance notes

Davidfine d at vidfine.com
Fri Jan 25 02:02:19 UTC 2008


I agree with Paul that NB should incorporate for reasons of stability. 
Furhermore,
I have been given a login to a service that tracks foundations grants, 
and there are many art/tech foundations we could court as a non-profit 
corporation. When we approach foundations it would help to have 501c3 
status, a bitchun mission statement, and some accomplishments under our 
belt.

Incorporating without the tax exempt status would be cheaper and 
quicker, so perhaps that is a sane first step. But I bet that tax exempt 
status would pay for itself in no time...
--D

>
>
> A second consideration is that we will have discussions soon on what 
> kind of legal entity we want to form for the purpose of taking the 
> lease on property. Do we have a "doing business as" with a few named 
> individuals on the lease, do we form an LLC, do we do a nonprofit 
> corporation, etc. My thought was that our choice there might have 
> insurance implications and so we'd better find out. It turns out in 
> fact that nonprofits have a different pool of underwriters than 
> for-profit entities, although both can obtain insurance. I'm asking 
> agents for quotes in the different cases.
>




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