Sergei Brin sold Tesla stock near its peak for new giving vehicle
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Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#2Archive Link https://archive.is/sAc6L
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#3> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy
new?
a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.
I think the public put way too much emphasis on 501(c)3's non profits on their own, people just rattle off words they hear without thinking about what they mean. There are c3's c4's, c5's, c6's and more. I don't really think its wrong for people to not have realized that "501 c" was a reference to a section of the tax code, surrounded by other variants, I mostly expect Bloomberg to have mentioned it that way.
For example, When I listen to a lot of the employee sentiment in the for profit world, especially the people that want corporations to "use their platform" for things unrelated to corporate revenue, I always thought those employees would be better off working for a 501(c)4 or 501(c)5 because those are purpose built for using their platform on political and labor matters.
Read the tax code. ChatGPT is aware of it and can get you a more digestible overview long before you point your licensed professionals into that general direction to corroborate what you understand.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#4Sergiy Brin sold his Tesla stock to fund a new nonprofit group.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#5> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
501(c)4's get a lot of attention,too, as the vehicle for PACs. The "novelty" here is that this is basically a private PAC.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#6Sergiy Brin sold his Tesla stock to fund a new nonprofit group.
Thank you. I had a hard time parsing the title.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#7> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
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Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#8> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
I presume "new" is an oblique reference to the Citizens United v FEC Supreme Court case[1], which, to quote a portion of the enWikipedia article:
>In addition to indirectly providing support for the creation of super PACs, Citizens United allowed incorporated 501(c)(4) public advocacy groups (such as the National Rifle Association, the Sierra Club, and the group Citizens United itself) and trade associations to make expenditures in political races. Such groups may not, under the tax code, have a primary purpose of engaging in electoral advocacy. These organizations must disclose their expenditures, but unlike super PACs they do not have to include the names of their donors in their FEC filings.
Or, quoting OpenSecrets[2]:
>Essentially, Citizens United allowed 501(c)(4) groups to participate in political activities just like other groups already had been doing. But, unlike most of the other groups, which are under the oversight of the Federal Election Commission and must disclose their contributors and expenditures, 501(c)(4)s fall are overseen by the IRS. They must make filings with the FEC when they spend money explicitly advocating for or against a candidate, as well as when they buy issue ads that run in the weeks close to an election, but they aren't required to provide detail about where they're getting their money or how they're spending much of it.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#9> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
501(c)4's get a lot of attention,too, as the vehicle for PACs. The "novelty" here is that this is basically a private PAC.
yeah, I've seen a lot of constructive uses for 501(c)4's. I agree that "novelty" is not novel at all, all of them would fly further under the radar as merely private entities if they do not have a need to register with the FEC in supporting campaigns.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#10> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
501(c)(8) is a hoot. Check out one of the legal requirements to be covered by it.