On Sep 18, 2012, at 12:09 PM, Kristin Long <kri...@mightyminnow.com
> That's interesting, especially the part about not qualifying as a 501c3.
Yeah, I was surprised. The main reason is that it is a service that only applies to a subset of the community. We still need to identify a tax specialist to help with the lab and donations. When that happens, I’m going to verify the lawyers assessment. I still find it hard to believe.
> We are running meetups as well, but not specific to the lab and in my experience potential sponsors haven't been interested in tax implications. Would you mind telling us more about how the nonprofit status fits with meeting sponsorship?
The main benefit to the non-profit for the monthly meetings is simply house-keeping. We don’t have to route sponsorship money through our corporate books. We have a Mobile Portland checking account, etc.
We may also need to start paying for meeting space as the meetings are again outgrowing their current location (averaging over 100 people per meeting). So we may find ourselves routing more sponsor money than we would otherwise which makes the separate entity nice.
BTW, the lawyers said that if the only thing we were doing was monthly meetings, that we would likely qualify as a 501(c)3 so long as the mission was educational. It was the lab that made it difficult to quality.
> And I can try to help with moderation, as well. Feel free to add me.