Frequently Asked Questions - Finance

In a fiscal sense, no one; OTW is a nonprofit organization, so any revenue the organization takes in goes into the organization's coffers to support the work the organization does. The OTW does not currently have any paid staff and is run by volunteers. Our official conflict-of-interest policy is the one recommended by the IRS for nonprofits.

The OTW is incorporated in the state of Delaware, in the United States.

The OTW uses funds to purchase goods and services that cannot be provided by its volunteers, such as expenses related to operations and certain administrative costs. Such operational expenses include the purchase of software and server space to create and maintain the archive. Administrative expenses include a variety of items typical to a nonprofit organization, such as insurance, payment processor fees, and monthly charges to maintain a bank account. As the organization grows, additional administrative and fiscal management resources will include the services of an independent accountant, tax preparer, and auditor.

The Board is ultimately responsible for these decisions as part of its fiduciary obligation. For smaller transactions, the Board will delegate responsibility to OTW’s committees to determine what goods and services may be necessary. All expenditures are reviewed by the Financial committee to ensure that they fit the goals of the individual committee and overall goals of the organization, as well as the established budgets. The Financial committee is responsible for making payments.

The OTW is able to accept donations from all over the world via online donation, or by check via mail to our post office box. See Support the OTW for the details.

Our payment processor will not reveal credit card or bank account numbers to the OTW. Personal checks received by mail will necessarily have account information on them, but that information will not be retained.

Yes. The IRS has approved OTW's tax-exempt, nonprofit status. One of the benefits of our nonprofit status is that any donation that you make to the organization, including your US$10 OTW membership fee, is now tax-deductible in the United States! Even better, your past donations are also tax-deductible, back to our date of incorporation: September 5, 2007.

Please note that if you are located outside the US, your contribution may or may not be tax-deductible. You should consult with a tax adviser and see whether a gift to a US 501(c)(3) qualifies for a tax deduction under your local laws.

It is important for donors to realize that the OTW must track the names and some contact information about donors to comply with IRS regulations. Given the prevalence of fans using pseudonyms in their fannish life, this information will be held closely by the OTW and will only be available to those individuals on the Board and the Development and Financial committees who must have access to this information to perform their duties.

Completely anonymous donations can only be made in cash. We are considering what security procedures can be put in place should these kinds of donations represent a significant portion of our donor base.

The OTW is a nonprofit corporation, subject to laws and regulations dictating its fiduciary responsibilities to conduct activities in a manner that upholds the public trust. The OTW will be scrutinized not only by its members and fans outside the organization, but also by the IRS and the State of Delaware, our incorporation state.

There are a number of additional safeguards in place. Misuse of OTW funds constitutes fraud and could be subject to prosecution. This operates as a solid deterrent. Distribution of the OTW's funds will follow generally accepted accounting principles with regard to oversight and authorization of expenditures. Finally, the OTW is required to file Form 990 with the IRS each year to report the organization's financial activities.

The OTW produces an annual report, which includes a summary of OTW’s activities over the previous year, as well as the organization’s financial statements. This is made available each year on the OTW Web site. The Form 990 is a public document; however, it will not be available on the OTW Web site, as it contains personal information about individuals that should not be made available via the Internet. Individuals can obtain a paper copy of the annual report and the Form 990 for the cost of duplication and postage by contacting the Treasurer. Please put "Annual Report/990" in the subject line and provide a mailing address.