Nouns

One Noun, every day, forever.

nouns.wtf

accelerating agritech. empowering communities. ending hunger.
 https://cityfarmers.xyz

@wylin post duna we can own real-world assets. 

Seeing as the coffee shop isn't purchased is it possible to get it owned by us now?

this one’s messy

yes, a DUNA can own real property and could run a coffee shop ie Prop 580

re: Prop 450

if we’re gunning for 501c3 status, all of Nouns’ previous activity will be reviewed by the IRS. even before achieving 501c3 status; an org’s activity needs to fit within the boundaries of public benefit

for the most part Nouns will be good.

a multi-hundred thousand dollar grant for the private ownership of a coffee shop/ expansion of an existing for-profit business is likely to pretty squarely fall into the category of private benefit and would likely be considered an excess benefit transaction

if Nouns is a 501c3 and EBTs occur, the recipient will face a 25% tax penalty, and any of the organization’s managers, (in this case the voters,) will personally face a 10% penalty (capped at $20k) if they knew the transaction was improper

the recipient will also need to return the funds within the tax year, or face an additional 200% penalty

this one’s messy

yes, a DUNA can own real property and could run a coffee shop ie Prop 580

re: Prop 450

if we’re gunning for 501c3 status, all of Nouns’ previous activity will be reviewed by the IRS. even before achieving 501c3 status; an org’s activity needs to fit within the boundaries of public benefit

for the most part Nouns will be good.

a multi-hundred thousand dollar grant for the private ownership of a coffee shop/ expansion of an existing for-profit business is likely to pretty squarely fall into the category of private benefit and would likely be considered an excess benefit transaction

if Nouns is a 501c3 and EBTs occur, the recipient will face a 25% tax penalty, and any of the organization’s managers, (in this case the voters,) will personally face a 10% penalty (capped at $20k) if they knew the transaction was improper

the recipient will also need to return the funds within the tax year, or face an additional 200% penalty

https://www.blueandco.com/nfp_03152012.html