Who Should Help LinuxFund Distribute $126,155.29? 380
Roblimo writes "The LinuxFund Web site was down for several months, and the project has essentially been out of business since last year. But MBNA kept the LinuxFund MasterCard going, and kept depositing money in LinuxFund's account -- to the tune of $126,155.29 when NewsForge reporter Jay Lyman finally caught up with the current and former project leaders and found out what was going on -- namely nothing. So does anyone have an idea what to do with this money? Want to suggest an individual or group to take over LinuxFund and run it right?"
Problems With Undirected Charity (Score:3, Insightful)
Perhaps the money could be used to set up a trust for a scholarship fund. If the trust was set up properly, with the appropriate oversight, it could be a perpetual source of fund for students entering the computer science field.
Now who wants more computer scientists?
Anyone?
A few thoughts (Score:5, Insightful)
IHMO, the best organization for something like this is for LinuxFunds to be an administrative entity only. Proposals for Open Source software and funding requirements could then be submitted to the project for review and potential approval. Selected OSS projects would receive the funding they requested according to the payment schedule that was approved. This payment schedule would allow LinuxFunds to track the progress of a given project, and make adjustments as necessary. (Potentially even cutting off funding if the project is not viable.)
Such an organization would require only a few knowledgable employees to make the decisions and administrate the funds. With funds transfers being what they are today, much of the grunt work (transfer, accounting, etc.) could be done automatically. Since this is a publicly supported organization, it should publish a detailed accounting of its usage of the money.
To put things in perspective, the current funds of $126k work out to about 5,250 man hours of work at ~$24/hr (~$50,000/yr).
That's my thoughts anyway.
obFSF (Score:5, Insightful)
~Rebecca
Who should NOT take it over... (Score:1, Insightful)
What a clusterfvck (Score:3, Insightful)
Re:Problems With Undirected Charity (Score:5, Insightful)
Sounds like a lot came from a Credit Card affinity program. Giving it back isn't really a reasonable alternative, since the costs to service could quickly surmount the cost being refunded. Perhaps the money could be used to set up a trust for a scholarship fund.
Using the money for a purpose other than the one the fund was set up for is borderline criminal. Whatever the Linux Fund's intent was, that intent should be caried out by whomever takes over.
Sustainability (Score:2, Insightful)
I see this all the time in my industry -- people want to spend one-time funds on ongoing projects. As soon as that money is spent, people start scrambling for sustainability and complain about inept business practices. If the $126K is spent with this in mind, I am sure it can do wonderful things. If it is spent on a plan that requires future funding, we could have some problems.
Re:obFSF (Score:2, Insightful)
Re:Agreed... FSF. (Score:3, Insightful)
No, mod the grandparent down.
The question is "Who should handle the funds, not who should recieve them."
The best option for handling them is someone who is financially secure, has the proper legal ability to act as trustee, and no personal interest in their own project over another.
~Rebecca
Re:What a clusterfvck (Score:3, Insightful)
Heck, I have a business degree AND I'm a geek. I'd be happy to administer the thing; 100K can make 5k to 10k per year in capital gains and interest. That would be a nice little grant for a couple of open source projects per year. I think that's much better than handing out the money in one swoop and then it's gone.
Re:Problems With Undirected Charity (Score:5, Insightful)
Cripes, I would do it myself, but I think one of the existing non-profits would be better for this sort of thing.
Why pay for bloated American way of life? (Score:2, Insightful)
Re:Problems With Undirected Charity (Score:5, Insightful)
A part of the Articles of Incorporation or Bylaws or other organizing instrument of any organization should include what will be done with any assets at such time as the organization is disolved. This is actually a requirement if you want the IRS to recognize you as a non-profit, precisely to avoid having to make that decision after-the-fact. I happen to run a non-profit org, and while what we do has nothing to with activities normally carried out by the American Red Cross, in the event our non-profit must be dissolved all of the assets get donated to them.
If Linuxfund was set up properly, deciding what to do with the money should be as simple as consulting the articles of incorporation or bylws for the organization.
If not, well, the people who donated the money should have taken greater care in selecting the organization they gave it to.
Give it to feed some starving children (Score:1, Insightful)
There are more hungry children living under conditions of the most heart-rending, abject poverty in parts of Africa and Asia than this mere $126,155.29 could even begin to properly help.
But it could at least help put some nutritious meals in the bellies or buy medicine for some of them for a little while anyway.
I suggest give it all to some organization like World Vision [worldvision.org] of one of the other legitimate charities who do the same kinds of things.
A mere $30 could feed a child for a month, or buy enough antibiotics to save the lives of a couple kids with bacterial pneumonia.
Think about it tonight while you stuff your face with pizza sitting in front of your PC playing Warcraft.