

Ask HN: How to implement "1% of nothing?" - eof

http:&#x2F;&#x2F;1percentof.org&#x2F; seems to be down&#x2F;defunct; but the basic idea was&#x2F;is that giving 1% equity to charity for a founding company has minimal impact on founders while having a lot of potential for &#x27;good&#x27;.<p>My co founder and I are doing a 2-1 equity split, and in talking about how to &#x27;round&#x27;; I suggested, and he agreed, that we do this 1% of nothing deal.  Now, we are forming as an LLC so we can&#x27;t directly give equity (as far as I understand) to a non profit; nor do we have the capital&#x2F;mental space to found a non-profit to give equity to.<p>My initial idea is to note in equity split part of the founders agreement have a clause that gives the 1% to a non profit upon transfer of ownership or conversion to c-corp.<p>I am wondering if anyone has experience with how to implement this, generally, or specific to our situation (forming as an LLC)
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redtexture
I'm curious why you are not using a corporation as your entity. You have just
met with the first of a number of difficulties of an LLC as a business and
startup entity.

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staunch
This may be helpful:
[http://www.salesforcefoundation.org/sharethemodel](http://www.salesforcefoundation.org/sharethemodel)

