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All
purchases through the Website will help contribute a small sum of money
to the Non-Profit Fund for the benefit of the listed non-profit
organizations. Each product or service sold will clearly indicate how
much is being contributed to the Fund.
The Non-Profit Organizations that will be listed with the Arabian
Virtual Village should be currently registered in the United States
under sec. 501 C 3 of the USA tax code and such registration shall be
current at the time of disbursements from the Non-Profit Fund.
The listed Non-Profits focus their work on humanitarian
work, educational, families and children. During the first six months, the administration
of the Village will select five (5) Charities to be listed. After that
period, the membership of the village, upon supplying a petition signed
by 1% of the associate members, may add any Non-Profit that is registered under 501 C 3
regardless of their focus.
The method by which funds are allocated to the various Non-Profits is through the Encrypted Voting server opened to associate members.
Each Non-Profit will receive a share of the fund equal to the percentage
of votes they receive from the associate members.
Each Non-Profit organization will receive one web page
describing its work. Such web page will contain a link to the
charity’s web site if such web site exists. Each Non-Profit will be
allowed its own chat room in the Chat Forum to disseminate its efforts
and answer questions.
A board that is independent of the Arabian Virtual Village
administration will oversee the Non-Profit Fund and will be assisted by
a Certified Public Accountant. The Arabian Virtual Village will maintain
a representative on such board. The duties of the board are to insure
that the funds are distributed as per the wish of the membership through
its vote. The board, as being only an observing entity, cannot be held
liable
for overseeing the exercise of the will of the membership.
An independent auditor will semi-annually audit the
Non-Profit Fund and a summary of the results of the audit as they
pertain to the Non-Profit fund will be published on the web site about 2
weeks prior to voting.
Important Note: The Arabian Virtual Village is
working on setting up a Scholarship Fund under section 501 C 3 for the
benefit of its associate members. Such fund will be included in the list
of Non-Profits to be voted on. Certain businesses, either by law or
internal bylaws can only contribute to educational funds and might not
consider the Non-Profit Fund as a proper venue. In such cases, the
contributions from such businesses will go directly to the Scholarship
Fund. When voting takes place, if for example, the membership votes 35%
for the Scholarship Fund and its funding from such businesses meets or
exceeds the required 35% then the totality of the Non-Profit Fund will
be disbursed to the other Non-Profit organizations proportionately. If
the funding from such businesses is less than 35%, only the portion of
the Non-Profit Fund that complements the Scholarship Fund to the 35%
level will be used and the remainder will be disbursed proportionately.
Please
for the list of the Non-Profit Organizations.
Please
for a sample contract
with Non-Profit Organizations.
Interested Non-Profits should review
then
to contact us.
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