Skip to content

Anon and on … and on

March 23, 2011

Some of you have asked us how we are doing with Giving Anonymously (GA) and especially the situation with our state licensing.  For those who don’t know, here’s a brief summary of what happened:

In August 2010 we approached the Department of Financial Services in WA asking them what the requirements would be if FinCEN (a division of the IRS) asked us to register as a money service business (MSB).  Paypal is a good example of an MSB.  It’s a company that helps transmit money between people.  WA State responded to us and said that regardless of what the IRS decided we needed to have this license to comply with State laws.

So we sent in our application as requested.  Then late January 2011 WA Department of Financial Services told us that GA would need to file for this same license in all 48 states of the USA that require it.  The cost of filing in every state along with the net worth requirements are close to $700,000.00.   We expressed to the state that this was an impossibility for GA and submitted a proposal to be classified differently so that we would not need to get this license.

We are seeking legal counsel from a national law firm familiar with money transmission litigation to back up our proposal to WA State.  We would greatly appreciate your prayers that together, the State and lawyers, can formulate a workable plan which would allow GA to continue operating in the way that we have been.

So, how are we doing in the midst of it all?  –  It’s stressful but is also too big for us to solve on our own.  It’s one of the bigger challenges we’ve faced with GA and we are praying for Gods’ wisdom and guidance.

Our first meeting with our lawyer is tomorrow Wednesday 23rd at 10:00am.  I’d appreciate your prayers that we’d receive clear direction and sound advice.

——————-

On a personal note Misha and I continue to see provision come in for our family and are we grateful to God for that.  When we’ve needed help in some way, God has met us through our community.  Looking ahead, our family’s biggest need is to have consistency in our monthly income and we are currently trying to raise support towards that end.  If you would like information on how to help us in this way, please let me know and I will mail it to you.

~ by Lionel

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: