Summary of My Response

00:00:00 - 00:15:00

In the "My Response" video, the speaker addresses recent allegations against the Open Hand Foundation and their family, and provides transparency and evidence to refute the claims. They acknowledge that it has taken time to gather evidence and facts, and apologize for any confusion or disappointment caused. The speaker also discusses the Open Hand Foundation's formation and compliance as a public charity, as well as its finances, including revenue sources, expenses, and compliance with the 5% rule. Finally, they refute allegations of embezzlement, forgery, and charity fraud and address the foundation's name.

• 00:00:00 In this section, the speaker addresses recent allegations against their family and charitable organization, the Open Hand Foundation, which they claim to have been falsely accused of charity fraud. They explain that they are taking steps to provide transparency and set the record straight, and that they acknowledge that it has taken time to gather evidence and facts to refute the claims made against them. They also address why they have been quiet for the past few weeks and apologize for any confusion or disappointment this has caused. The speaker also discusses their mother's battle with frontal temporal degeneration (FTD) and how they and their family have been involved in raising awareness and supporting research and treatment for the disease. They also make clear that they were in no way involved in the management or planning of the Indyland events and that they are taking a step back from their role as a board member of the Open Hand Foundation, but maintain their commitment to working in the gaming community and supporting indie game developers.
• 00:05:00 In this section of the YouTube video, the speaker discusses the Open Hand Foundation's formation and its classification as a private foundation versus a public charity. The speaker notes that the foundation was originally registered as a private foundation but, in February of 2016, it filed to terminate its private status and switch to a public charity. The IRS acknowledged the termination and provided the foundation with the necessary requirements to comply with the IRS code. The foundation has been compliant in operating as a public charity since then, and its status is reflected on the IRS's website. The speaker also discusses the importance of proper filing and the industry standard for electronic signatures in tax filing.
• 00:10:00 In this section, the speaker discusses the finances of the Open Hand Foundation, including their revenue sources and expenses. They mention that the foundation receives donations and sponsorships, and that their expenses include costs for events and operational costs. They also mention that there were inaccuracies in the fundraising efforts of the foundation, including the Tiltify campaign for Indyland, which raised $61,200 and not the $64,65 that was mentioned. The speaker also mentions that the foundation does not make money on YouTube and that the golf tournament raises money that seems to disappear. They also mention that the foundation took donations and sponsorships that had already been paid for for 2020 and rolled them towards 2021 due to the pandemic. Finally, the speaker mentions that it is perfectly legal for foundations to hold donations, but they are expected to use their assets to benefit society and follow the 5% rule, which requires private foundations to distribute 5% of the market value of their assets each year.
• 00:15:00 In this section, the speaker talks about the Open Hand Foundation and its charitable donations, emphasizing that it is not legally required to distribute a minimum of 5% a year in charitable donations as it is a public charity. The speaker also refutes allegations of embezzlement, forgery, and charity fraud, stating that none of the money from the Open Hand Foundation has ever funded any of their personal projects and that their family and legal team are in conversations with the IRS to address the allegations. The speaker also addresses the foundation's name, which was inspired by a saying their mother used to share with them.