[PDB-gov] 501(c)(6) application

Tue Jan 5 11:56:32 PST 2016

Chris F et al,

On Tue, Jan 05, 2016 at 11:25:54AM -0800, Chris Van Fossen wrote:
> Hi Chris,
> 
> Many thanks to you, Patrick, Job, Matt, and Arnold for your work in
> launching PeeringDB, Inc..
> 
> Can you or a board member direct us where to go to better understand the
> financial decisions/estimates being made in the filing? Or if the summary
> is "these are decided by the board in the best interests of its members,"
> that'd be good to know.

Yes, this is a reasonable summary. Given that the initial board is only guaranteed to be in place until April 2016:

[snip]

3.4.1 Initial Directors. 
The initial Directors named in the Articles of Incorporation shall serve until the first annual meeting of members.
3.4.2 Successor Directors.
Successor Directors shall be elected for a term of two years each, every other year at the annual meeting of members, or by mail in such manner as the Board of Directors shall determine.

[end]

We are budgeting based on current accumulated anticipated debt and have a straw man budget in place for the annual estimates. Once the next election happens (in Apr) the newly elected board can put a more detailed budget in place. I'll have a more detailed budget to propose to the board at the next meeting on 7 Jan, 2016. Once approved, or adjusted and approved, I'll send it out to the gov list.

> Reworded from page 6 of the filing PDF --

[snip]

> There's no mention of those compensation or activities discussions in the
> Dec 8 board meeting minutes or in the docs at https://www.caputo.com/pdb/.
> Likely warranted and justified all around, so just hoping to learn more
> since all together that's no small figure ($209,838) for a new non-profit.

In the proposed agenda for the Dec 2015 Board meeting, I asked the board to stay focused on the initial creation of the organization and 501(c)(6) application and to hold on detailed budget discussions until the following meeting. We will address the short term budget and a few contracts this week. 

At the moment, the strategy is somewhat limited such that we are not forcing a future board, even if the directors remain the same, into long term obligations.

> From page 3 of the PDF, "PeeringDB does not charge membership fees. Members
> and interested parties contribute funds, sometimes in exchange for
> recognition."
> 
> If a contributing party asks where their 2016 donation goes, it seems part
> of the answer is "it goes toward payments for past contributions to the
> site." Correct?

That is correct.

Thank you for the feedback and please let me know if this addresses your questions appropriately.

Cheers,
Aaron

> 
> Thanks,
> Chris
> 
> 
> 
> On Tue, Jan 5, 2016 at 8:40 AM, Chris Caputo <secretary at peeringdb.com>
>  wrote:
> 
> > I've updated:
> >
> >   https://www.caputo.com/20151231_Non_Profit_Filing_Draft.pdf
> >
> > based on a correction from my CPA.  (Form 1024 page 5 lines 17 and 18)
> >
> > I also added a definition of "peering" to the description of PeeringDB on
> > the 2nd page of Form 1024.
> >
> > I intend to mail this on Thursday, so please speak up now if any issues.
> >
> > Thanks,
> > Chris
> >
> > On Wed, 30 Dec 2015, Aaron Hughes wrote:
> > > PeeringDB Members,
> > >
> > > The PeeringDB Board held it's first board meeting 8 Dec 2015 and have
> > > posted the minutes to gov.peeringdb.com
> > > (
> > http://docs.peeringdb.com/gov/minutes/2015-12-08_PeeringDB_Board_Minutes.pdf
> > ).
> > >
> > > Once the meeting was held, the organizational documents were filed and
> > > approved by the State of Washington. The Certificate of Incorporation
> > > and Certificate of Authorization are attached.
> > >
> > > The next step is to file the 501(c)(6) application. The draft is under
> > > review by the board prior to submitting at:
> > > https://www.caputo.com/20151231_Non_Profit_Filing_Draft.pdf
> > >
> > > Our next board meeting will take place in Jan were we will address
> > > contracts with vendors, funding sources planning, IP, as well as some
> > > strategic plans for the next few months prior to the Apr members meeting
> > > and next election.
> > >
> > > Please feel free to comment, submit feedback or ask questions to any of:
> > >
> > > This list: pdb-gov at lists.peeringdb.com
> > > The PeeringDB Board: board at lists.peeringdb.com
> > > or to me directly: aaronh at tcp0.com
> > >
> > > A big thanks to Patrick W. Gilmore, Matt Griswold, Arnold Nipper, Job
> > > Snijders, and Chris Caputo for all of the time and effort into getting
> > > PeeringDB, Inc. launched.
> > >
> > >
> > > Regards,
> > >
> > > Aaron Hughes
> > > President PeeringDB
> > >
> > >
> > >
> > > --
> > >
> > > Aaron Hughes
> > > aaronh at tcp0.com
> > > +1-703-244-0427
> > > PGP Public Key ID: 0xF6B1DEC2
> > > Key fingerprint = 6486 43A5 1692 502C DCFC  8446 C714 E317 F6B1 DEC2
> > > http://www.tcp0.com/
> > >
> > > Request a meeting with me: https://doodle.com/aaronh
> > _______________________________________________
> > Pdb-gov mailing list
> > Pdb-gov at lists.peeringdb.com
> > http://lists.peeringdb.com/cgi-bin/mailman/listinfo/pdb-gov

> _______________________________________________
> Pdb-gov mailing list
> Pdb-gov at lists.peeringdb.com
> http://lists.peeringdb.com/cgi-bin/mailman/listinfo/pdb-gov

-- 

Aaron Hughes 
aaronh at tcp0.com
+1-703-244-0427
PGP Public Key ID: 0xF6B1DEC2
Key fingerprint = 6486 43A5 1692 502C DCFC  8446 C714 E317 F6B1 DEC2
http://www.tcp0.com/

Request a meeting with me: https://doodle.com/aaronh