I suppose any VC firm could do the same, but...
▪️Ten31partner Bogarts on the opensats board
▪️Chooses winners and losers
▪️Funds projects and gets personal with devs
▪️Once project ha...
that would be pretty illegal though:
"A 501(c)(3) cannot be operated for private interests, and its assets cannot inure to insiders' benefit."
The IRS explicitly says private benefit can be monetary or nonmonetary, while inurement concerns insiders such as directors.
"A 501(c)(3) cannot be operated for private interests, and its assets cannot inure to insiders' benefit."
The IRS explicitly says private benefit can be monetary or nonmonetary, while inurement concerns insiders such as directors.
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