We finally came to the following decision. We will incorporate a
Foundation in Germany (called "Stiftung" in German) in early 2011. A
german foundation will provide us with many advantages of various
kinds, among them, 100% tax-deductible donations.
Hello Charles, et al.
"100% tax-deductible donations."
Just to be clear here, you mean that donations to this foundation will
be deductible by the individual making the donation?
Donations, provided you are under the German tax law (you live in
Germany or have a subsidiary in German) will be 100% tax deductible by
you. That fiscal advantage might, depending on the ongoing legal works
surrounding one common law for European Foundation, be extended to
other european memberstates.
Thanks, that is what I assumed and just wanted to be sure.
In order to incorporate there we will however need some initial
capital and resources (around fifty thousand (50,000) Euros). If we
do not manage to collect this sum in a reasonable amount of time,
we will switch to our second best option and incorporate a charity
in the United Kingdom, which is much cheaper.
Could you put some sort of time-frame to "reasonable"?
[just your folks thoughts on what reasonable is here]
I don't really know, but if we're stuck with 3 thousand bucks at the
end of February it might be time to reconsider options. (that's just my
Looking at the account statements Thomas has been publishing -
What 2022 [with inflation that could slip to 2030, I suppose] isn't
going to be soon enough for you? :-)
Still with the decision being to form in Germany and a price tag of
50,000 Euros it seems that a bit more then two months would be in order.
When you folks came to the decision there must of been some idea of
where the monies would come from, yes? Is it assumed that most will come
from a small number of large donations then and two months being
sufficient time then to garner actual donations or pledges from these
few large sponsors?
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