Geeko Foundation
Proposed Structure
July 2024

Photo by Akin Cakiner on Unsplash

Author: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation

Geeko Foundation
Foundation/Charity Basics
A quick discussion around definitions andmeanings, and a starting point for the future.

Take part at:https://t.me/+gr5refxERQY2MmY0Visit: https://www.geekos.org
Author: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation

Legal Status●Both are legal entities, with the same rights as a person●Meaning both can be sued, taxed, fined as a person would.

●Plus additional laws apply (for obvious reasons – corporate and charity laws etc)●

Both are managed by trustees, rather than shareholders, and the role of the trustees is toenable the organisation to execute it’s duties and adhere to the law.

●

Funds raised must be spent on the “charitable purpose”●

Funds raised cannot be distributed to “shareholders” – because there are none.

●

Funds can be spent on salaries, infrastructure and so on – that support the charitablepurpose.

Author: Patrick Fitzgerald, Founder & Trustee of the Geeko FoundationDifferences●

Not-for-Profit–Can be taxed at the endof the year–

“Profits” after tax areused in activities thefollowing year–

Lighter touch with regard
to regulations●Charity–Donors have the ability
to reclaim tax ondonations– Are not taxed– Are more heavily
monitored to ensure that
the Charitable Purpose isfollowed

Geeko Foundation is aiming for full UK Charity compliance by the end of 2024
Author: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation

Trustees
●

●

●

●

Trustees bear a level of financial risk for the regular reporting and financial
performance of the entity, risk management and health and safety
They are usually people with broad experience, connections and businessacumen.
The Geeko Foundation will seek the best quality trustees who are notnecessarily part of the community.
More information here:–

https://www.gov.uk/government/publications/the-essential-trustee-what-you-need-toknow-cc3/the-essential-trustee-what-you-need-to-know-what-you-need-to-do

Author: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation

Proposed Structure
One Foundation, Many Projects
Geeko Foundation Trustees
Infrastructure
Global Code of Conduct
Project CoC

Project CoC

Project Board / Management Committee
Eg: TW

Eg: Leap

Others

Project Board / Mgt. Committee
KiwiOBS

Otherscommunity
Author: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation

Proposed Structure - Explained●The Trustees oversee the day-to-day running of the “business”●

The Foundation’s infrastructure (ie: funds, accounts, webpresence(s), and hosting infra) is overseen by the trustees. Thisis important as a lot of infra will be subject to agreement /contract.

Global Code of Conduct●Relevant trademarks will be held by the Foundation.

(Management Layer)●A Global Code of Conduct will be adopted that will be rigorously
enforced to reduce legal and reputational risk.

●The trustees reserve the right to terminate involvement withindividuals and/or entire projects found in breach of the GlobalCoC.

●This “Management Layer” will do everything in it’s power toensure the survival of the foundation and the projects that it
represents.

●

Each Project should have it’s own level of management andCoC (that could be a template of the global CoC, or acustomised version) – but in cases the global CoC will takeprecedence.

●Eligible projects will be chosen via recommendations from thecommunity and/or what makes commercial sense

Geeko Foundation Trustees
Infrastructure

Project CoC
Board / Management Committee
Sub Project

Sub ProjectcommunityAuthor: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation

FAQs
●●

Why did you choose (pick country) to set up instead of the UK?
–

We had to start somewhere! Despite Brexit, the UK remains a easy place to set up a business.

–

Each additional region adds costs and complexity to the management of funds and projects.

–

We are currently in the process of establishing a 501(c)3 in the US, and researching the same for the EU.

How are Trustees chosen?
–●How would funds be allocated?
–●

We’d expect to allocate funds, and potentially infrastructure and mentorship - according to a project’s community engagement level,
overall interest level, and technological promise.

Why are you using Stripe and Wise instead of solution (X) to handle payments/banking?
–●

As mentioned elsewhere, trustees will need a number of attributes - community membership is not necessarily one of them – andthe best process of selection is yet to be verified.

Both are easy to implement, flexible and relatively low cost. Both have REST APIs too, making them easy to integrate and automate.

How can I help?
–For now, join the telegram group https://t.me/geekos_org and ask!
Author: Patrick Fitzgerald, Founder & Trustee of the Geeko Foundation