Nathan Michaud launches Traders4ACause
Nathan Michaud started a non-profit New Hampshire Non-Profit Corporation organization called Traders4ACause. This organization is intended to promote philanthropy within the trading community. Traders4ACause raised over $100,000 for honorable causes at the last event.
Traders4Acause was organized to support and promote charitable works and giving among members of the stock market day trading community, including the making of pledges or contributions to organizations that qualify as exempt organizations under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”).
Traders4Acause will pursue multiple initiatives and programs during any given fiscal year and over the course of its existence, in order to fulfill its charitable mission.
As part of one such initiative, Traders4Acause may designate a month or multiple months during a given fiscal year as a charitable pledge month, and encourage professional stock market day traders to make pledges to donate certain amounts of their income from day trading to charity. Traders4Acause will recommend that these pledges be based on a certain common formula, which all participants will adhere to. Traders4Acause will market any such initiatives as “pledge drives” or “pledge marathons.”
For example, during one month a year, Traders4Acause may recommend that participating individuals pledge to tally all commissions that such participants pay during that month to complete stock or option purchase or sale transactions, and make charitable donations in amounts equal to the commissions paid. To facilitate such donations, Traders4Acause may work with brokerage companies to allow pledge drive participants to elect to make such donations automatically. The pledged donations from each “pledge drive” will be allocated for one organization that qualifies as tax-exempt under Section 501(c)(3) of the Code, such as St. Jude Children’s Research Hospital, or for multiple charitable organizations dedicated to particular missions, such as relieving illness. In all cases, Traders4Acause will only host such “pledge drives” on behalf of organizations that are recognized as tax-exempt under Section 501(c)(3) of the Code.
In addition to soliciting charitable support from active stock market day traders, Traders4Acause will also solicit support from the subscription based service companies that serve such day traders. Traders4Acause may request that such service companies donate certain percentages of their monthly proceeds to a “pledge drive.”
Traders4Acause will accept and aggregate pledged donations, and donate these amounts to the appropriate charitable organizations. Traders4Acause will only remit such donations to organizations that qualify as tax-exempt under Section 501(c)(3) of the Code.
Traders4Acause will also promote, facilitate and coordinate the making of these pledged donations through websites, blogs and/or smart phone apps. Traders4Acause will work with the recipient charity or charities to market and spread awareness of all “pledge drives.”
Traders4Acause will help participating charities reach new donors and participate in initiatives and programs, to which such charities would otherwise not have access, due to a lack of financial resources, technical infrastructure and visibility.
In addition to pledge drives, Traders4Acause will host one or more informational conferences, golf tournaments, gala dinners and/or other events, with the proceeds all donated to one or more charities. Traders4Acause will only remit such proceeds to organizations that qualify as tax-exempt under Section 501(c)(3) of the Code.
The use of any and all funds raised by Traders4Acause will be subject to the restrictions imposed on Traders4Acause by its Articles of Agreement, the laws of the State of New Hampshire and the relevant Sections of the Internal Revenue Code applicable to organizations that are tax-exempt under Section 501(c)(3).