Hi,
A few corrections to be added:
David Neary wrote:
2) Wire transfer - instructions for making wire transfers can be obtained by e-mail to fundraising@xxxxxxxxx You can specify that the payment is for the GIMP in the comment field of the wire transfer, or in the e-mail to the foundation. The donor should specify the currency they prefer to pay in, since EU wire transfers are considerably cheaper than in the US.
The address here should be fundraising@xxxxxxxxxx Excuse the thinko.
What we will probably do is decide what portion of a ticket we can afford to pay, and have the GIMPer affected "donate" the rest of the cost to the foundation, and then have his ticket bought for him (I'm not sure how above board this is, since as a donor his donation will be tax deductible).
This entire paragraph wasn't actually discussed at the meeting, and as such shouldn't have gone in here. It was more or less musings that I had based on a principle that we discussed, which was that tax issues are less hairy when the Foundation buys tickets or stuff for individuals rather than gives them money. This was me trying to reconcile that with the fact that we don't actually have enough money to fully pay for tickets for people.
We will need a smalish group of people who decide where the limited funds we have (or hope to have) get distributed, and co-ordinate with Tim on the distribution of funds.
We also discussed whether it would be an idea to keep a separate paypal account which wouldn't be tax deductible. I think this is a good idea, not because I begrudge the foundation their 5%, but because there is no reason to put either them or us to the trouble if there is no benefit to us or the donor.
To be clear, I was more or less alone in this, and I haven't thought a huge amount about it. Tim recommends not exposing any individual to tax liability because they are the person handling funds for an event like this, and having all transactions go through an association's books. That was also the main reason we set up the foundation in the first place.
On that point, Sven, how did you handle this last year?
Now that I think about it, I'm not so sure I'd like to put myself in that position either. But there definitely needs to be discussion on this point.
Cheers, Dave.
-- Dave Neary bolsh@xxxxxxxx
