Photo: micheile dot com on Unsplash
The Culton project will be organized as a non-profit foundation registered in Norway, formally established by the initiator Bi-O, which also collects the foundation capital via crowdfunding on Spleis. We have cleared with relevant authorities that this method is ok, and will also get Bi-O’s books audited to secure the transparancy of this funding operation by the Culton foundations audit partner, Crowe.
All donations will go in full to the foundation (except appr. 5% cut to crowdfunding platform), and the foundation pays for the audit after establishment.
The minimum requirement to establish a foundation in Norway is NOK 100 000. We want to start with twice that from the start, and we would also like many contributors as that creates a broad community.
Once the foundation has received its registration number, it can and will create its own donation solution, so for those who wish to contribute more, this can be done directly in the future.
All those who contribute will forever be listed as co-founders of this project, unless they want to give anonymously.
For the record: There are no rights or obligations vis-a-vis the foundation in connection with making a donation. It is the foundation’s board that has full responsibility for the operation from its establishment.
Bi-O attempted a campaign at Spleis in 2022, but it only brought in just under NOK 7,000. The company now has a new crowdfunding campaign called Bi-O Stocks for several of the company’s ventures, including the creation of the Culton Foundation. Go to Bi-O Stocks
Last Updated on 2023-10-24 by Karl Aakerro