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MCBans Nonprofit Incorporation

Discussion in 'News and Announcements' started by MatthewDM, Jun 1, 2017.

  1. MatthewDM

    MatthewDM Director, Business Operations Staff Member

    Joined:
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    MCBans has officially incorporated as a 501(c)(4) nonprofit limited liability corporation. Our corporate membership was formed on March 9, and the charter and bylaws were adopted at a continuation of the board meeting on March 27.

    What does this mean for you?

    Not a lot – MCBans has simply become a legal entity with a board of directors. You cannot deduct your donations to MCBans from your taxes.

    What does this mean for us?

    Aside from tax and records paperwork and disclosure requirements, MCBans is now officially managed by its board of directors, which consists of the current leadership team (Draco, Firestar, Kris, and myself). Draco has been appointed to the title of President and CEO (despite his strong objection to the title inflation) and I have been appointed as Chair of the Board of Directors and corporation Secretary. The Board will officially meet about once every 6 months to appoint officers or to receive and review official paperwork.

    At the board meeting, we officially contracted with Synload LLC to provide data center, security, and development solutions for MCBans, and to reaffirm MCBans’ commitment to sound decisionmaking through two board resolutions.

    Who is the owner of MCBans?

    The MCBans system is owned by MCBans LLC, a nonprofit 501(c)(4) corporation controlled by a Board of Directors. The Board is chaired by myself, and consists of myself, Draco, Kris, and Firestar. The day-to-day management of the organization is carried out by the President and Chief Executive Officer of MCBans, who is Draco.

    The MCBans domain name, site code, data, and API servers are provided to MCBans on lease by their owner, Firestar.

    Best,

    Matthew M. (MatthewDM)
    Director – Business Operations,
    Chair of the Board of Directors and corporation Secretary
    MCBans
     
    MatyG likes this.

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