[ros-dev] ReactOS Foundation 501c3 Status - Approved

[Steven Edwards]

Hi,
Just to let everyone know we are now approved to be a 501c3 org in the United States meaning that
we can give a tax deduction for any contributions received for donations to the Foundation. I am
in process of trying to get my paperwork together now to come up with a plan to move forward as I
have never done this before and its been a learning process. Sorry its taken so damn long......

I would like to propose that we get something up rather quickly on foundation.reactos.org and
review/amend the draft bylaws as needed as well as have our first real meeting after Jason and I
have discussed off list drafting a new budget plan for the following expenses.

Bounty System
Retainer for Legal and Accounting
Supplementation of Hosting Costs
Administrative Assistant
Reserve Fund

Just to give you a idea I am wanting to budget whatever income we might have in the following way

80% developers/bounties
5% reserve fund (Mutual Funds, Savings, Etc)
5% legal reserve and retainer costs
5% supplement hosting and misc expenses (expos etc)
5% part-to-full time administrative assistant to help me manage paper work as I suck at it.

Prior board meetings mainly consisted of me telephoning each board member upon the initial
incorporation and we have not really moved forward since that time. Now that we are all nice and
legal its time to hit the ground running. Currently our board of directors consists of long time
developers to ReactOS and Wine

Steven Edwards, Jason Filby, Alexandre Julliard, Brian Palmer and Rex Jolliff.

I would like to get community feedback as part of our bylaw amending process on the current status
of the board and when/if we should hold elections and restructure. Also from people that agreed to
be on the board. Do you still want to do it? Does anyone else? Etc....

Thanks
Steven



		
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