Hello Justine,

Yes you are right i misunderstood something in your mail, but it wasn't the role, it was the word "proceeds" I had thought you meant the proceeds made by the new org. I guess we are both in sync then. Nevertheless it still opens the question of the fact that the major funding source of ISOC(which includes ISOC chapters)/IETF is now gone. It may look like they have x amount they've received form the sale afterall.....well that to me is a static cash which can either diminish rapidly or increase a little (if invested properly), which i don't think is better than a continuous steady source of funds that ISOC enjoy from earlier ISOC/PIR relationship. I still wonder, what the ref was thinking by making this move!

Regards

On Thu, Nov 14, 2019 at 4:34 AM Justine Chew <justine.chew@gmail.com> wrote:
Seun,

You are mixing up the roles of the parties. The new owner ie Ethos Capital has no role to play in and does not fund the endowment for ISOC projects/activities. Ethos Capital is buying PIR (the operating entity which is an asset of ISOC) from ISOC - i.e. an outright sale and purchase of an asset - for X sum. It is ISOC which will arrange to fund the endowment vide the X sum (or more accurately, the returns on the investment of X sum) it receives from Ethos Capital.

After the transaction is completed, Ethos Capital will own and operate PIR outright. So no revenue sharing is involved.

The announcement indicated that Ethos Capital intends for "PIR to continue to meet the highest standards of public transparency, accountability, and social performance in line with its longstanding purpose-driven mission" and to maintain "all of PIR’s domain operations and educational initiatives" as is - these are PIR's domain operations and educational initiatives not ISOC projects/activities.

Justine 
-----


On Thu, 14 Nov 2019 at 16:58, Seun Ojedeji <seun.ojedeji@gmail.com> wrote:
Sent from my mobile
Kindly excuse brevity and typos

On Thu, 14 Nov 2019, 03:33 Justine Chew, <justine.chew@gmail.com> wrote:
It is an outright sale of an asset, the proceeds of which go toward "an endowment fund" for ISOC projects/activities.
No revenue sharing is involved.

SO: This actually is quite fuzzy, and I am not sure how this will be practically feasible. I am not sure what obligation will compel the new owner to adequately fund the endowment/ISOC since there is no revenue sharing agreements involved.

Regards

The announcement indicated that all projects and operations will continue as is under new ownership. With its policy on public/community benefit presumably driven and overseen by Ethos Capital's Stewardship Council - I wonder who they will put on this Council.

PIR under Ethos Capital will lose its non-for-profit status, so there might be financial implication not to ISOC but possibly PIR's existing .org customers/registrants.

We shall see.

Justine 
-----


On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard <maureen.hilyard@gmail.com> wrote:
As Eduardo said there are lots of unknowns at present. Who knows?

On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, <alan.greenberg@mcgill.ca> wrote:
Why will it have major implications on ISOC Chapters?

Alan

At 13/11/2019 02:52 PM, Maureen Hilyard wrote:
I know for sure that this was not even hinted at during the last PIR Advisory Council meeting.. but it will have major implications for the ISOC chapters. What are they/ISOC thinking?

Maureen

On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <mmoll@ca.inter.net> wrote:

Had we known this was lurking in the background -- which it most certainly was at the time -- it might have been a different discussion. How much did ISOC know and when did they know it -- a question ISOC chapters might want to ask.

Marita
-------- Forwarded Message --------
Subject: ISOC sells PIR
Date: Wed, 13 Nov 2019 17:38:29 +0000
From: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA>
Reply-To: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA>
To: NCSG-DISCUSS@LISTSERV.SYR.EDU


 I must say, this casts the decision to drop price caps for .org in a slightly different light.  I will keep you posted as I learn more.


https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acquire-Public-Interest-Registry-Internet


Stephanie Perrin

NCSG Chair

 
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--
------------------------------------------------------------------------
Seun Ojedeji,
Federal University Oye-Ekiti
web:      http://www.fuoye.edu.ng
Mobile: +2348035233535
alt email: seun.ojedeji@fuoye.edu.ng

Bringing another down does not take you up - think about your action!