Speaking of organization formation...here's what I found out so far:<br><br>If we want to set it up here in the US, which seems to be what "Open Learning Nepal" did (since it's<br>listed as 501(c)3, we can ask MyCorp.com to do it for $124. While it seems quick to set it up,<br>
maintenance is tedious, because the Internal Revenue Service is very strict and an organization<br>can be taxed heavily for any misstep. Hopefully a CPA can step-up as a volunteer. <br><br>So, in the Philippines...you have to file it with the SEC as a NGO non-profit org. I think there's a <br>
way now to do this on-line. They have a fee schedule available on their site, but since I'm not <br>an accountant I don't know which stuff we need to pay for. You still have to file something at the BIR <br>at year's end to verify that you're operating as a non-profit entity. I'm not sure how strict they are out there.<br>
Also, there is such a thing as a "donor tax" where one is taxed for charitable contributions. This seems<br>to defy the logic of giving since why would one give if you're going to be taxed for it. I guess this is<br>
why big corporations in the Philippines set up their own non-profit foundations to handle charitable <br>contributions. Again, I'm not an accountant and I just found these out from the web and by asking<br>some friends in the Philippines. <br>
<br>Another option is funneling everything to DepEd and letting them handle the donations and disbursement, which <br>frankly scares me since I don't trust the government there and they might not be as transparent as <br>
we will be on the funds. <br><br>Cheers,<br>---Cherry<br>