I dont think its anything against Homegrown, Brandon or anyone else, its simply the nature of business to want to know the answers to fiscal and other questions when the situation is something that has the potential to affect so many businesses.
Having 250k pledged isn't really that great of an idea, imo.
Especially if its not collected.
The better idea, if I were setting it up, would be to get an escrow account with a reputable law firm and actually solicit monies, with the understanding that they would be held by the firm until such time as the goals were met and the company could go forward. If the situation did not come to fruition then all monies would be returned to the donating parties
501© 3 does not afford the same tax benefits as a 4 if I am not mistaken - a local Phx charity I am involved with has been working for quite some time to get the status corrected in order to afford the full benefits under the tax code to donors.
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10-21-2003
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