Re: PROPOSAL UPDATED: Incorporate the Veres One Non-Profit Foundation

+1 on the basis of Adam's thorough analysis and recommendation.  Personally
I'm glad we're not trying to go to Switzerland right now (or maybe ever).
When I hear of "Swiss neutrality" in a topic like this I feel a slight
eye-roll come on.  Their marketing is good.  Bose speakers anyone?

-stone

On Thu, Aug 16, 2018 at 12:51 PM Jordan, John CITZ:EX <John.Jordan@gov.bc.ca>
wrote:

> FWIW … there is legislative changes in our legislature that look like it
> will pass this fall which will implement “Benefit Company” as a legal
> entity type in BC. However, implementation not till Fall 2019 I think.
>
> J
>
>
> https://www.leg.bc.ca/parliamentary-business/legislation-debates-proceedings/41st-parliament/3rd-session/bills/first-reading/m216-1
>
>
> http://www.andrewweavermla.ca/2018/05/17/bc-green-bill-enable-incorporation-benefit-corporations-passes-reading/
>
>
>
> From: Christopher Allen <ChristopherA@lifewithalacrity.com>
> Date: Thursday, August 16, 2018 at 11:38 AM
> To: Adam Lake <alake@digitalbazaar.com>
> Cc: "public-veres-one@w3.org" <public-veres-one@w3.org>
> Subject: Re: PROPOSAL UPDATED: Incorporate the Veres One Non-Profit
> Foundation
> Resent-From: <public-veres-one@w3.org>
> Resent-Date: Thursday, August 16, 2018 at 11:37 AM
>
> On Thu, Aug 16, 2018 at 11:17 AM Adam Lake <alake@digitalbazaar.com
> <mailto:alake@digitalbazaar.com>> wrote:
>
> Christopher Allen: 0, Abstain
> To be clear, I am abstaining as I don’t believe the best option is either
> a non-profit or foundation. There are other ways to demonstrate fiduciary
> responsibility and benefit to the community. The tax issues can also be
> addressed other ways.
>
> My personal experience with both non-profits and foundations is that they
> are often not worth the trouble unless there are significant individual
> patrons that wish to write off donations in their country of taxation,
> which I don’t believe is applicable to us — corporations can also write off
> expenses. The regulatory requirements for these entities are also
> burdensome and limit types of governance and changes to governance models
> which I believe are evolving right now.
>
> I abstained as feels to me that the decision as already been made that you
> must form a non-profit or foundation, without sufficiently exploring
> options for a benefit corp with strong transparent governance, and dealing
> with tax issues other ways. but “perfection is the enemy of the good” and
> if the team largely wants to go the “traditional” way I don’t want to block.
>
> — Christopher Allen
>
-- 
-stone