About the Foundation
To maximize the reach as well as to ensure the long-term impact of the Mojaloop Initiative, the BMGF transitioned the project and the work under it into a new independent organization, as a nonprofit 501(c)(3) charitable organization. The goal is to bring together a diverse group of industry participants to help drive the creation of this new organization and help ensure it meets its mission-critical objectives:
- Reinforce Mojaloop’s Financial Inclusion mission
- Actively reference Level One Project principles
- Evangelize Mojaloop
- Maintain a robust, thriving OSS community to guide software evolution
- Maintain software roadmap and an Agile release program
- Host/Manage the community
- Keep governance lightweight for open source contributors while ensuring structure and mission alignment
|Participation Level||Annual Fee||Rights / Benefits|
|Promoter||$10,000 – 100,000 Tiered dues based on company revenue.||
|Community Member||No Charge||
*Certain Nonprofit Members may be excused from the payment of dues by request to the Secretary by emailing email@example.com.
Board of Directors (BoD)
The BoD will be focused on the statutory functions of corporate governance and adherence to the core mission. Comprised of one representative appointed by each Founding Member of the organization, the BoD shall assume all fiduciary management functions of the organization, including the selection and management of the staff and contract resources necessary to operate the organization. The BoD shall also have the particular and persistent duty of ensuring that the activities of the organization continuously align with and fulfill the stated mission of the entity. Finally, the BoD will have responsibility for monitoring the regulatory landscape relative to the work of Mojaloop. While it is not envisioned that Mojaloop will conduct any formal lobbying activities, efforts that elevate education and awareness in support of the organization’s mission may be undertaken as needed and as decided by the Board of Directors.
Technical Governing Board (TGB)
The TGB, comprised of a broader set of member representatives than the Board of Directors, will plan and oversee all of the technical work conducted within the organization. The augmented breadth of the TGB is to help ensure diversity of perspectives and approaches regarding the technical work at hand. The TGB shall be empowered to make all decisions regarding technical direction, such as code release decisions, standards document approvals, authorization of code maintainers, etc. unless an activity is out of the scope of the mission of the organization. When the TGB is faced with an out of scope request, the item must be reviewed and approved by the Board of Directors.
• Articles of Incorporation: Document that establishes the existence of a corporation in the United States.
• Bylaws: Establish the rules and structure of the organization.
• Membership Agreement: Binds a member to the rules and policies of an association.