Content
@
0 reply
1 recast
1 reaction
Lulu
@nekofar.eth
Based on everything we’ve seen and the info provided, the main goal of shifting toward DUNA is pretty clear: getting money into the treasury from hypothetical future investors. But that only happens if, post-DUNA, they somehow pull off the 501(c)(3) status, which honestly seems like a long shot. Plus, with all the social capture and conflicts of interest we’ve already seen with the foundation, it’s hard to be optimistic about web2 companies jumping into Nouns. Their priority will be securing their interests, not backing degen moves. 🤔
2 replies
0 recast
3 reactions
rocketman
@rocketman
why do we need 5013c to raise $ from investors
2 replies
0 recast
1 reaction
Lulu
@nekofar.eth
Both 501c3 and 501c7 offer tax-deductible benefits to non-profits, but let's be real, auction demand is dropping, and current auctions are mostly scripted. Some folks are eyeing the treasury's future through those tax benefits, though I'm highly skeptical it'll actually pan out.
2 replies
0 recast
1 reaction
wylin💎↑
@wylin
c7, and all other forms of 501c’s except c3, do not offer tax benefits to donors/ money in, they only exempt the organization from paying federal taxes
1 reply
0 recast
2 reactions
Lulu
@nekofar.eth
Yeah, I think I mixed up tax benefits with tax deductions. From what I’ve seen, 501(c)(7) clubs do get some tax perks, but only 501(c)(3) organizations actually give you that sweet, tax-deductible status for donations. If I’m not mistaken, 501(c)(7) benefits are more about the club itself not being taxed on member income, but members can’t claim a deduction for their dues.
1 reply
0 recast
1 reaction
