[Noisebridge-board] FW: [Fwd: And a few last questions]
rachel at xtreme.com
Tue Oct 28 15:22:50 PDT 2008
For the ones about family, business relationships, etc, I think they are
all NO with the possible exception of Jake fronting the rent & security
For the last few we should probably get together and discuss a bit.
Tonight after the general meeting?
Mitch Altman wrote:
> And some final questions from Carol...
> Date: Tue, 28 Oct 2008 14:21:13 -0700
> From: mitch at CornfieldElectronics.com
> To: maltman23 at hotmail.com
> Subject: [Fwd: And a few last questions]
> -------- Original Message --------
> Subject: And a few last questions
> Date: Tue, 28 Oct 2008 10:57:23 -0700
> From: Carol Gee <carolgee at sbcglobal.net> <mailto:carolgee at sbcglobal.net>
> To: Mitch Altman <mitch at CornfieldElectronics.com>
> <mailto:mitch at CornfieldElectronics.com>
> Hi Mitch: Here are just a few final (hopefully) questions, taken from the
> IRS application form:
> 1. Do we have any representative copies of newsletters, brochures, or
> similar documents for supporting details about activities and fundraising?
> Is the only source of communication the wiki? I looked at it and it is
> totally transparent. The IRS usually does look at this as part of the
> application review process, so we should be mindful of that. I guess I can
> print out some of the wiki? Any other ideas?
> 2. Question: Are any of your officers and directors related to each other
> through family or business relationships? If yes explain.
> 3. Is there a business relationship with any of Noisebridge's officers or
> directors? If yes, describe. (for example, if one of the
> directors/officers were your landlord, or a vendor, etc.)
> 4. Do any of the officers or directors receive compensation from any other
> organizations, whether tax exempt or taxable, that are related to
> Noisebridge through common control? If yes, explain.
> 5. NOTE: The application requires Noisebridge to certify that in
> establishing any compensation arrangements for officers and directors (or
> future employees, etc.) that you will adhere to the following:
> a. The individuals or groups that approve compensation arrangements
> will follow a conflict of interest policy (which is set forth in the bylaws)
> b. No compensation will be paid without advance approval by the board
> c. The approval process will be documented in writing, including the
> date and terms of approved compensation arrangements.
> 6. Will Noisebridge compensate anyone through non-fixed payments, such as
> discretionary bonuses or revenue-based payments? If yes, describe all
> non-fixed compensation arrangements, including how the amounts are
> determined, who is eligible for such arrangements, whether you place a
> limitation on total compensation and how you determine or will determine
> that you pay no more than reasonable compensation for services. AND will
> such non-fixed payments exceed $50,000 annually?
> 7. Will Noisebridge purchase from/ or sell to/ any goods, services, or
> assets from/to any of its officers directors or future employees or highly
> compensated independent contractors? IF yes, describe how you determine
> that the terms are negotiated at arm's length and that no more than fair
> market value is paid. Attach copies of any written contracts or agreements
> relevant to same.
> 8. Any loans, leases, contracts or other agreements between Noisebridge and
> its officers, directors (future employees or independent contractors)? If
> so, attach. This includes business dealings with entities in which an
> officer, director (or employee or independent contractor) has even a 35%
> 9. In carrying out your exempt purposes, do you provide goods, services,
> or funds to individuals? To other organizations? If yes, describe.
> 10. Do any of your programs limit the provision of goods, services, or
> funds to specific individual or group of specific individuals? Such as,
> only to your members? If yes, describe. Also describe how individuals
> are selected for each program.
> 11. Do any of the recipients of goods, services of funds from Noisebridge
> programs have a family or business relationship with any officer, director
> (or in future, with employees or independent contractors?). If yes,
> 12. Do you or will you maintain separate accounts for any contributor under
> which the contributor has the right to advise on the use or distribution of
> 13. Describe further how fundraising will be accomplished. Give as many
> specifics as possible.
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