Talk:Vote to Donate SEM
Deadline to move
The move must happen within 60 days after passage of this vote.
I appreciate the sentiment here, but what happens if it doesn't? The vote is invalidated and the SEM stays where it is? If we still want to make the donation, we have to run the vote again? --Dbever (talk) 08:50, 15 February 2016 (CST)
- I've spoken with them. 60 days (with 30 days lead time) is ample time to get it out. They want to move it sooner rather than later. If they can't make it go away in 60 days then something has probably gone very wrong such that they can't take it, period. --Rdpierce (talk) 13:15, 15 February 2016 (CST)
You might consider adding a direct requirement that the board designate a board member to consult with legal counsel or an appropriate tax professional regarding the tax deductibility and value of the donation. Jason (talk) 13:55, 16 February 2016 (CST)
- If PS:One is granted 501(c)(3) status, this is a moot point. PS:One would owe no taxes, so a tax deduction doesn't make sense. If PS:One is denied tax-exempt status and is considered a for-profit corporation, then this donation may be useful to offset taxable income. But the IRS determination should be made any month now. If PS:One's application is denied, then there will be ample time before year end to get it appraised and gather appropriate documentation. --Rdpierce (talk) 15:40, 16 February 2016 (CST)