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Archive for the '501c3' Category

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501(c)(3)? Can Casey sell out?

The hottest thread in the Brainstorm group is probably the 501(c)(3) thread. The CS General Manager, the Volunteer Coordinator have posted, but apparently not with enough information to cast away doubts raised by a retired management consultant with plenty of experience with US law.

Apparently there is a way for Casey to sell out, as long as the bylaws are not sorted out properly. Of course, these are currently far away from public scrutiny.

As Callum wrote:

I think the key question for Casey / LT therefore is about the company byelaws. How was the company incorporated and are there any provisions for changing the company status? Without that information, I am of the opinion that if 501(c)(3) status is ever achieved, Casey could voluntarily remove that status, pay the relevant tax, and then sell CouchSurfing.