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I don't know the details, but the Mozilla Foundation and Mozilla Corporation have different budgets and legally have to spend the money on different things (sin
by gkoberger 6y ago
I don't know the details, but the Mozilla Foundation and Mozilla Corporation have different budgets and legally have to spend the money on different things (since the Foundation is a non-profit). They can't just move money around like a normal company can.
- Wowfunhappy 6y agoWell... can they fix that? Please? At least for the future so this doesn't happen again? I'm not opposed to nonprofits creating systems to make sure donor money is handled appropriately, but it seems to me there's something seriously wrong with the current structure. In hard times, organizations generally need to focus on their core initiatives, not branch out even more!
- dboreham 6y agoProbably would mean paying $$$ tax and/or returning money to whoever donated it.
- maxerickson 6y agoThe corporation can spend money on whatever the hell. That's why they set it up. You can infer from the foundation tax returns that most of the assets are held by the corporation: https://assets.mozilla.net/annualreport/2018/mozilla-2018-form-990.pdf https://assets.mozilla.net/annualreport/2018/mozilla-2018-fo... It's the assets held directly by the foundation that have implications for their tax status, and they only move assets to that status as necessary.
- viro 6y ago"The corporation can spend money on whatever the hell. That's why they set it up." oh that is not true at all ... fiduciary duty doesn't work like that.
- maxerickson 6y agoThere's no need to be so literal. And conveniently, the people directing the Corp are the ones setting the agenda for the org (which that agenda is the thing the Corp has a fiduciary duty towards...).