Tax

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Elpida Social Capital

Consultation on Tax Implications of Anonymous Wealth Transfer Platform

Summary:

Provide a tax consultation to a financial education startup dedicated to closing the racial wealth gap.

Referred by:

Jurisdictions: U.S. (headquartered in VA)
About the Organization: Elpida Social Capital (“Elpida”) is a financial education firm dedicated to closing the racial wealth gap by using financial and social capital to invest in historically marginalized communities.
Legal Entity Type: For-profit
SDG(s):End Poverty, Good Health and Well Being, Reduced Inequalities
Legal Issue(s):

Last year, the team at Elpida launched the Black Student Debt Freedom (BSDF) fund in an effort to crowdfund and pay off black students’ education loans. They are now in the process of transitioning the BSDF fund into an anonymous wealth transfer platform called Jubilant Circle, which aims to close the racial wealth gap by paying off student loans, facilitating asset transfers, and offering culturally appropriate financial coaching. The Elpida team is seeking a consultation to discuss a few discrete questions about the tax implications of running Jubilant Circle.

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Alaska Fellows Program

Tax Consultation

Summary:

Provide a tax consultation to an organization that connects young Alaskans with high-impact opportunities in the state.

Referred by:

  • Anonymous Collaborator
Jurisdictions: U.S. (Alaska)
About the Organization: Alaska Fellows Program (AFP) is a fall-to-spring residential program that nurtures the next generation of Alaska-based leaders by pairing them with professional mentors and connecting them with non-profit or public-sector organizations for fellowships.
Legal Entity Type: Nonprofit/Charity
SDG(s):Decent Work and Economic Growth, Industry Innovation and Infrastructure, Peace, Justice, and Strong Institutions, Reduced Inequalities
Legal Issue(s):

Alaska Fellows Program is a fiscally sponsored organization, currently in the process of establishing a 501c3. Their program participants are paired with non-profit and public-sector organizations and paid a modest living stiped. Because the program is not tied with an academic institution and geared towards young professionals/recent graduates (rather than current students), participants are currently paid as private contractors. However, the AFP team is seeking a consultation to discuss avenues/the possibility of making the stipend tax-free. In that same consultation, if possible, they would also appreciate assistance with a few discrete questions about the tax implications of purchasing cars/properties for use in connection with the program.

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