[Businessmtg] PayPal / Incorporation

[logmark at comcast.net]

...Just got back from my cabin - trying to catch up... 

  

Topic: PayPal and Incorporation 

  

Initially PayPal froze our account because we were deemed 

to be a non-profit organization. We had just moved all our 

PayPal money into our bank account, so no funds were at 

risk, but in order to unfreeze our account they required 

some data that - well - didn't exist. The solution Steve 

got from our WSO was a sort of work-around. WSO contacted 

PayPal and we were permitted to operate under WSO's non- 

profit status. 

  

That's not very self-supporting and puts the WSO into 

business that's not theirs. About the only way to shed 

the WSO umbrella would be for ASP to incorporate which 

would give us the legal identity to give PayPal what they 

need directly from us. As I understand it incorporation 

is currently on hold. We could start that up again. If I 

recall, our founder, Steve, was willing to have his address 

be our permanent address and we'd incorporate in his home 

  

Of note is that the WSO doesn't favor every online group 

[or I suppose every f2f group] incorporating. I can see 

their fear that too many corporations and legal autonomy 

may create potential problems. However, ASP needs to tend 

to its needs, too. 

  

So PayPal and Incorporation are really intertwined topics 

which I believe should be addressed together. 

  

That said, we are set up for the next couple of years, or 

until Anne rotates out of her Treasurer position so we have 

some time for this. I'd propose that we get a cost estimate 

for incorporation, then vote on approval of the funds.  If 

funding is approved, we could go ahead with it, get PayPal 

the new info then we wouldn't have to worry about our status, 

or our PayPal account in the future. 

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I'm sticking to the agenda and not speaking to the unrelated 

topics of software needs and prudent reserve disposition. I 

trust they will be posted for discussion in their turn. 

One thing at a time please :-) 

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As a sidebar, PayPal is essential for members who live outside 

the U.S. and Canada in order fro them to participate in our 

7th Tradition. There are HUGE fees associated with processing 

checks drawn on banks from other countries (way bigger than 

even the most generous donations!) Members form the U.S. and 

Canada can mail checks to our treasury address (see the recent 

7th Tradition post) without a problem. 

- - - - 



Biz Hugs, 

Jerry 

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