I should also note that tax-exempt organizations generally cannot set up funds for particular individuals. At least, they can’t do that and have donations be tax-deductible—I think they can safely administer an account.
I love the LessWrong community, it is great that this was found! David is contacting the IRS on Monday, as the Form 990-series was something we had not needed to turn in for many years. If we get the form in then the status is retroactive though, so he thinks it will be resolved within a week. When we raised funds for the preservation of William O’ Rights in ’08 and ’09 people were able to use donations for tax deductions.
It should be clear that we do not raise money for an individual, as the money does not go to an individual. The money raised will only go to a cryonics organization to preserve a legally dead individual, if the person that the charity was set up for is not preserved for any reason then the money will be refunded to the donor if they wish.
Out of the 3 previous cryonics charity funds run by the Venturists, two were successful (one is still animate -James Swayze—and one was preserved -William O’ Rights) when Marce was not able to be preserved many had their donations refunded and some chose to transfer their donation to William’s case. Thank you to everyone that is helping Kim—she’d like to be preserved at either Alcor or Cryonics Institute depending on how much is raised. I have hope that we will at least get the funds for CI—she finds comfort in either as she says.
I should also note that tax-exempt organizations generally cannot set up funds for particular individuals. At least, they can’t do that and have donations be tax-deductible—I think they can safely administer an account.
I love the LessWrong community, it is great that this was found! David is contacting the IRS on Monday, as the Form 990-series was something we had not needed to turn in for many years. If we get the form in then the status is retroactive though, so he thinks it will be resolved within a week. When we raised funds for the preservation of William O’ Rights in ’08 and ’09 people were able to use donations for tax deductions.
It should be clear that we do not raise money for an individual, as the money does not go to an individual. The money raised will only go to a cryonics organization to preserve a legally dead individual, if the person that the charity was set up for is not preserved for any reason then the money will be refunded to the donor if they wish.
Out of the 3 previous cryonics charity funds run by the Venturists, two were successful (one is still animate -James Swayze—and one was preserved -William O’ Rights) when Marce was not able to be preserved many had their donations refunded and some chose to transfer their donation to William’s case. Thank you to everyone that is helping Kim—she’d like to be preserved at either Alcor or Cryonics Institute depending on how much is raised. I have hope that we will at least get the funds for CI—she finds comfort in either as she says.