From: The Baileys (nanotech@cwix.com)
Date: Sun Apr 11 1999 - 18:18:55 MDT
E. Shaun Russell wrote:
> Cryonics organizations are essentially non-profit, using the money
>from suspensions to maintain dewars etc. Considering the progress of
>parallel technologies, there is a possibility of some method of life
>extension (eg: nanotechnology) becoming available before a cryonic
>suspension is necessary. If this were to happen, would the funds be
>reimbursed to those who have cryonics accounts? When such advances come
>about, they surely will not be cheap; perhaps funds could be transfered?
I've never perused the exemption application of cryonics organizations so
I'm uncertain which IRC code section they use to obtain their exemption
and/or what their stated exempt purpose is. Understanding their purpose is
a good first step to determining how they would deal with such a situation.
As I understand the finances of such organizations though, the payment made
to such organizations (i.e., the lump sum upon cryogenic suspension) is
placed into the organization's central fund. The maintenance of the dewars
and other operational needs are funded from earnings (interest, dividends,
etc.) off of this fund. I suspect if their technique became obsoleted by a
more robust life extension technology, they would simply allocate the
remaining funds in their operational account among the remaining customers
upon their revival less winding up costs of the organization.
Doug Bailey
doug.bailey@ey.com
nanotech@cwix.com
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