[Noisebridge-board] AMT donation

rachel lyra hospodar rachelyra at gmail.com
Tue Sep 20 22:43:42 PDT 2011


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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