<div dir="ltr"><div class="gmail_default" style="font-family:tahoma,sans-serif;color:#0b5394"><span style="font-family:arial,sans-serif;color:rgb(34,34,34)">On 14 May 2017 at 17:27, </span><span dir="ltr" style="font-family:arial,sans-serif;color:rgb(34,34,34)"><<a href="mailto:bzs@theworld.com" target="_blank">bzs@theworld.com</a>></span><span style="font-family:arial,sans-serif;color:rgb(34,34,34)"> wrote:</span><br></div><div class="gmail_extra"><div class="gmail_quote"><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><span class=""><br></span>That said I would agree that there is a tendency when running any<div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148);display:inline"> </div>business that "excess" cash tends to get allocated one way or another<div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148);display:inline"> </div>barring an iron-willed commitment otherwise which is not what I'd<div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148);display:inline"> </div>expect of an organization structured like ICANN.<br></blockquote><div><br></div><div><div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148)">I don't know about that.</div><div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148)"><br></div><div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148)">I've been involved with some nonprofits that believe it imperative to, as possible, maintain a reserve fund to deal with unintended or unanticipated circumstances. The amount of this reserve may be capped by taxation authorities who don't want it too high, but having a substantial fund to guard against liability, especially in uncharted territory such as ICANN's, is certainly prudent.</div><div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148)"><br></div></div><div><div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148)">- Evan</div><div class="gmail_default" style="font-family:tahoma,sans-serif;color:rgb(11,83,148)"></div><br></div></div>
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