Some generalities on my findings re: hardware donations and gifts: I have examined IRS revenue rulings as well as our charter. I believe that outright donations, as long as they are from members, are perfectly acceptable and need not be structured as leases, loans, or sales for nominal value, as they constitute "amounts collected from members for the sole purpose of meeting losses or expenses," or "income received from members." Hence they would not count towards the 15% limitation.
The best way to accomplish the donation would be by deed, i.e. a signed, written, dated letter identifying the hardware as specifically as possible and stating that you are hereby donating it to HCoop Inc. Once delivered to an officer, the cooperative would have full title to the hardware wherever it resides, so please think carefully before making such a donation and consult with the board prior to doing so, since the board could not legitimately revoke such a gift unless it were in the interests of the cooperative. Changing your mind or requesting consideration after the gift is accomplished would place you in an unpleasantly adversarial position. Donations are greatly appreciated and will help the cooperative expand. Do keep in mind that they are not tax-deductible and HCoop is not a charity. The cooperative is always looking for sustainable non-gift assistance from the membership as well, such as capital (cash loans, deposits, or hardware on credit) and labor where it may be useful. However where donations or gifts are made, no special benefits or status may be conferred (other than the intangible appreciation and high regard of your fellow members). -ntk _______________________________________________ HCoop-Discuss mailing list [email protected] http://hcoop.net/cgi-bin/mailman/listinfo/hcoop-discuss
