Joined: Feb. 2006
|Does this mean I can create the Doc Bill Research Foundation, declare it to be not-for-profit and solicit money to enable me to "think" all day. Great Thoughts, mind you, although I think best in a new BMW.|
Somehow, there has to be more to it; some regulation.
Who's our non-profit expert?
You can more or less do that. I know two individuals who, back the 1980s, started not-for-profits here to finance their own personal field research into raptors. Both have grown to include more people than the founder (and one was such a prick he eventually got fired from his "own" not-for-profit). But in the beginning, it was just them. One has spent extensive time traveling the world doing field work, funded by donations from a variety of well-heeled people interested in raptors.
Nice gig, actually.
And in the open source software world, non-profits are common, providing a mechanism to provide support for developers, etc. I derive a small part of my income in this way.
Not-for-profits are corporations, so you need the baggage - President, Treasurer and a board in my state, need to do your annual reports, tax reports. You have to get your corporation qualified as being tax-exempt. I don't know if "sitting around, thinking" would qualify but "research" probably would :)
So, hey, go for it, push those boundaries!