Gentoo Linux Becomes a Software in the Public Interest Project Because…Bookkeeping and Taxes
Gentoo Linux Becomes a Software in the Public Interest Project Because…Bookkeeping and Taxes
You're viewing a single thread.
Maybe I am tired(its2:00am)but why are they ‘going away from being a 501c3? This article does not explain it well.
I would like to know the reason why along with Danial’s opinion even though he has been doing his on thing with Funtoo for 10 years or so
why are they ‘going away from being a 501c3?
You've got it backwards. They're dissolving their old non-501(c)(3) Foundation that they use to manage their finances currently, and becoming a part of an existing 501(c)(3) called Software in the Public Interest (SPI)
TL;DR from the article, they're doing this to:
- Offload the overhead expense of independently managing their finances/accounting, by merging with someone who already has a robust system in place
- Save money by becoming tax exempt
- Allow themselves to accept matching gifts from donors whose employers support such things
So, since I live in Australia, it means no changes. Got it.
I think, regardless of where you're donating from, this means less overhead and your money goes a little bit farther on the charity's side, which is a win for everyone.
You're right though that it's not tax deductible for you, so the amount you can donate does not change, just the effectiveness of those dollars.
Reading between the lines on the gentoo-dev mailing list, I gather that the old system just was not working very well, with friction between the Foundation and the technical side of the distro.