You likely know this, but a not-for-profit without 501(c)(3) status is not tax-exempt.
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From: Anthony Zeoli <[address removed]>
To: [address removed]
Sent: Mon, Mar 18,[masked]:33:43 GMT+00:00
Subject: Re: [newtech-1] LLC + 501c3 question
I've been looking also into L3C status, which is now available in North Carolina.
To your examples, I know that the Wordpress Foundation is inspired by Mozilla. The WPF is a 501(c)3 and Automattic, Inc is a for profit. I don't know any more than that, but if WPF is a non-profit, then I'd like to model what I do after what they do.
I understand that I would be the "organizer" and not an "owner." I didn't know that MF owns MF Corporation and that the profits flow up to MF to fund it after taxes are paid.
Automattic accepted investment from the NYTimes and I'm sure there are US citizens who contribute to Wordpress outside of any grants they receive.
My goal is to accept donations or grants to help pay the staffers who support the open source project for the Netmix.org Foundation. I'd like to run Netmix Media as the for profit, in the same way Automattic, Acquia or RedHat support their clients using each respective open source software.
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