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I voted for the establishment of a foundation, although I thought the 
question being put to vote was wrong. That's mainly because I think you will 
struggle to overcome the regulatory requirements to form a foundation. At 
best, you'll be able to incorporate and operate the company on a 
not-for-profit basis. That creates a slight problem, because that is not what 
people voted for. I'm not criticising anyone, I should have mentioned it 
earlier. ‎

Whatever form the OpenNic 'legal entity' takes (I doubt it will be as a 
foundation), the problem with incorporating in the US, as with most 
countries, is that it's going to be very difficult to escape paying tax on 
any profits. But someone is going to have to open a bank account in the 
company's name and it will probably be easier if that person resides in the 
same jurisdiction as the company. I assume Brian resides in the US? I 
originally suggested incorporating in the UK, but I have since reconsidered, 
mainly because of this practical difficulty.‎

As to forming a 'legal entity' in an offshore location, the only real 
benefit, other than anonymity, will be tax. But this benefit is likely to be 
outweighed by the logistical nightmare of setting up that entity and getting 
a bank account. Also, I don't know if any of you have ever looked at 
incorporating offshore, but it's not cheap. Incorporating somewhere like the 
US or the UK is quick but more importantly, can be done at minimal cost.‎ 
You'll also find it quite difficult getting a PayPal account if you go 
offshore, I assume that's how the majority of donations come in?

Anyway, those are my 2 cents. hopefully some of the above is helpful.‎

  Original Message  
From: Julian De Marchi
Sent: Tuesday, 20 January 2015 22:25
To: discuss AT lists.opennicproject.org
Reply To: discuss AT lists.opennicproject.org
Subject: Re: [opennic-discuss] Foundation: Proposal 501(c)(3)

On 01/21/15 08:16, Riley Baird wrote:
>>> There's really nothing nefarious here.
>>> >>
>> >There's also nothing democratic here.
> I disagree. If the vote had been against forming a foundation, no
> foundation would have been formed. Also, if I remember correctly, all
> decisions are appealable to a vote, under certain conditions. Check the
> constitution for details.

Well said Riley. This is democracy at work. Quinn now has an 
opportunity, he'll either run with it or fail, time will tell.

--julian