Allocation of the Association’s annual fees to the Foundation in 2021. Do the initial contributions of founder members to the Sheltered Foundation replace the annual fee paid to the Association? Why are payments made to the Foundation and not to the Association.
The initial contribution to the Sheltered Foundation does not replace the annual fee paid to the Association, which will continue. They are two distinct entities with complementary missions. This year alone, the Association is waiving the annual membership fee in favour of the contributions made to the Foundation by the various Network members.
Over and above allocation of the annual fees for budget year 2021, the annual fees will not be allocated to the Sheltered Foundation and shall remain the property of the Association whose role is to coordinate the Network (a different role from that of the Sheltered Foundation).
Regarding donations made to the Sheltered Foundation, these will not replace the annual fees payable to the Association under any circumstances. These are exceptional donations (“additional contribution”) to the Sheltered Foundation which do not concern the Association and are not subject to the same tax regime.
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