The Kingdom has been working towards becoming a 501c3 Corporation for a long time, and we are in a position now to finalize the process. The cost required to do so is however outside of the range of the discretionary spending of the Monarch and Prime Minister in a month, but more importantly it is simply a large amount of money relative to our Kingdom funds, and thus should be brought to a vote to see how the Kingdom feels.
The cost to Kingdom for incorporating as a 501c3 (Lawyer, filing, etc.) is $2,500 USD. This is a one-time fee and there are a great many benefits to this filing status, including but not limited to: ⦁ Exemption from requirement to pay taxes each year (losing kingdom funds) ⦁ Ability for donations to be tax deductible (forms would be available, support the kingdom and get a tax benefit!) ⦁ Less red-tape when organizing events/fundraisers ⦁ Makes it easier for EH to do charity/good work as an organization
Proposal - Authorize $2500 USD for payment of 501c3 filing for Kingdom.
_________________ Life before death, Strength before weakness, Journey before destination.
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