Hi MJ, On Tue, Sep 29, 2009 at 11:25:56AM -0400, Michael Schultheiss wrote: > MJ Ray wrote: > > http://www.spi-inc.org/treasurer/associated-project-howto.html says "Your > > Liaison may decide that your project is quitting SPI at any time. Any > > assets and money held by SPI for your project may be transferred to the > > 501(c)3 US non-profit of your choice, or simply held until expended." > > > > Is that a legal constraint in the US for 501(c)3 organisations? > > Yes. > > > What possibility there is for transferring assets to a non-US > > organisation if a project wants to end its link with SPI? > > An attorney or CPA (Certified Public Accountant) would need to be > consulted.
To elaborate on what Michael said, we need to ensure the money remains used for the purposes for which SPI is tax-exempt, and also honor the more specific donor intent. For non-501(c)(3) organizations, additional steps have to be taken to ensure this well enough to satisfy the US tax authorities, hence the consultation with the attorney or CPA. - Jimmy Kaplowitz [email protected] _______________________________________________ Spi-general mailing list [email protected] http://lists.spi-inc.org/listinfo/spi-general
