I got a similar experience from a different accelerator (which we didn't go to for approximately the same reasons). What I think happens is that the people sen

I got a similar experience from a different accelerator (which we didn't go to for approximately the same reasons). What I think happens is that the people sending this are not completely aware of how their role has shifted. They primary see themselves as "startup helpers" while the legal documents makes them look like an investment fund. I'd say they should pick one and stick with it - I don't mind either, but you can't pretend you're investing, and manage paperwork like a naive non profit...at least that tend to rub some people the wrong way.