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> I think there is a limit to the amount of gift in cash or other assets you can make without triggering a federal gift tax of around 40%. AFAIK, this does not

> I think there is a limit to the amount of gift in cash or other assets you can make without triggering a federal gift tax of around 40%. AFAIK, this does not apply when giving to a charity. > I can’t speak for Acton. Or in any legal capacity, but if it were me, tax deductions to a non profit can be rife with complications because if he ever gets involved with signal as a board member or employee, it might rise questions. And the loan won't raise similar questions? Why? > Signal foundation is not a charity. > A gift invites taxes, iirc. Like..if I gifted you above 15k(and you are not my family or part of a trust/insurance beneficiary etc), you will have to pay taxes on the realized value of the gift. > Also I don’t know exactly what kind of non profit Signal is... It's a 501(c)(3) https://signalfoundation.org/ https://signalfoundation.org/

jelliclesfarm 6y ago
https://pp-990.s3.amazonaws.com/12_2019_prefixes_82-86/824506840_201812_990_2019121216951146.pdf?response-content-disposition=inline&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIA266MJEJYTM5WAG5Y%2F20210115%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20210115T225921Z&X-Amz-Expires=1800&X-Amz-SignedHeaders=host&X-Amz-Signature=df06b392ea323b258cd958fe53274e0ad3dd29476f4c33a8ec312a3ceb74d5df https://pp-990.s3.amazonaws.com/12_2019_prefixes_82-86/82450... : form 990 of Signal Foundation. Source: https://projects.propublica.org/nonprofits/organizations/824506840 https://projects.propublica.org/nonprofits/organizations/824... Brian Acton is listed as Principal Officer/President You can’t donate to your own company and then claim it for a tax deduction.
- caturopath 6y ago
  Well, you CAN donate to your own company and claim it for a tax deduction, I do it all the time. That being said, this basic point seems like it might explain the whole thing. I can believe that he cannot be the sole (or nearly sole) donor and have the company be a 501(c)(3) rather than a private foundation or similar.
  - jelliclesfarm 6y ago
    Awesome. Thanks for the info.

jelliclesfarm 6y ago

https://pp-990.s3.amazonaws.com/12_2019_prefixes_82-86/824506840_201812_990_2019121216951146.pdf?response-content-disposition=inline&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIA266MJEJYTM5WAG5Y%2F20210115%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20210115T225921Z&X-Amz-Expires=1800&X-Amz-SignedHeaders=host&X-Amz-Signature=df06b392ea323b258cd958fe53274e0ad3dd29476f4c33a8ec312a3ceb74d5df https://pp-990.s3.amazonaws.com/12_2019_prefixes_82-86/82450... : form 990 of Signal Foundation. Source: https://projects.propublica.org/nonprofits/organizations/824506840 https://projects.propublica.org/nonprofits/organizations/824... Brian Acton is listed as Principal Officer/President You can’t donate to your own company and then claim it for a tax deduction.

caturopath 6y ago
Well, you CAN donate to your own company and claim it for a tax deduction, I do it all the time. That being said, this basic point seems like it might explain the whole thing. I can believe that he cannot be the sole (or nearly sole) donor and have the company be a 501(c)(3) rather than a private foundation or similar.
- jelliclesfarm 6y ago
  Awesome. Thanks for the info.