What measures are in place to protect the investments of members?

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.

How will OTW protect the data collected on individuals making donations?

The OTW must collect certain information (such as name, address, etc.) from 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 is only available to the OTW’s treasurer and members of the Development and Membership committee. Completely anonymous donations can only be made in cash.

Are donations to OTW tax-deductible?

Yes, in the United States. 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.