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Hi-
So I am almost ready to incorporate The Gimp Foundation. Here are the relevent bits at the moment.
It takes 6 to 9 months after I recieve my articles of incorporation (which takes about a month) to acquire 501(c)3 status. Until then, I can operate the corporation, but money we recieve will not be tax deductable (which only matters for people inside the US). If tax-deductable donations are really important right away, we could get another organization to recieve donations, which they then give to us. This is what The Mozilla Foundation is doing at the moment.
At least half the board of directors must be "disinterested." One is disiterested if he/she is not being directly compensated by the corporation. This means I can be the sole member of the Board, if necessary (but I am by no means suggesting that I should be the only member of the board).
There must be at least two officers. In particular, the president cannot be the same person as the secretary and treasurer. (i.e, the president cannot both be the person in charge, and the person who records the minutes of the board meetings or the person who controls the money).
One can both be a board member and an officer.
Bylaws that define more specific rules about how the corporation will be run, need to be written. This includes things like costs of membership, benefits of membership, defining officers and they responsibilities, defining voting rules. Defining, more specificly, the purposes and goals of the organization, and defining how the bylaws can be changed.
I am still in the process of finding out how invovled non-usians can be in a US corporation.
- -- Dan -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.2.3 (GNU/Linux) Comment: Using GnuPG with Mozilla - http://enigmail.mozdev.org
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