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Mission of the Foundation
Explanation:
The purpose of the Foundation is to provide the legal and financial base-support for the construction and maintenance of the Nation1 Network project, and other related projects (ie. providing Internet access to under-connected areas or youth events, advocating youth positions on internet governance etc).
The need for the Foundation arose when our initial financial structures in partnership with MIT, looked like they may become inadequate.
The Foundation will be set up to receive and manage prudently financial and product donations from companies, other charitable foundations and individuals. It will also be responsible for the employment of staff, infrustructure (ie. communications equiptment and services for Projects it supports.
Projects will submit an annual budget to the Foundation in advance, and the Foundation will allocate the money from existing resources, or search out further funding as necessary.
The Foundation will have a board of 10 voting members, including a number of young people (who by custom will hold the positions such as President, Secretary etc) and adults who are expert/well known in a field such as Technology, Youth Development, Law, Accounting.
The primary reason for the Foundation is to provide a conventional and secure entity in which to trust Nation1's financial dealings. We hope the conventional nature of the Foundation will be noted favourably by potential donors.