At modSanctum, our passion for modding and game development fuels our drive to provide a strong foundation for our community. As we continue to evolve, we want to share our current corporate structure and future plans with you. Join us on this complex journey as we remain committed to our goals and the people we serve.
Our organization comprises two entities at present: Mod Sanctum LLC, the owner of our website modSanctum.org. The Institute of Mod Education (TIME), a 501c3 non-profit organization, this entity was originally going to wholly own Mod Sanctum LLC but with our new structure this will be changing. These entities were initially established by a community member who has since parted ways with the organization and have lost contact with. As we move forward, we plan to restructure and create to better serve our needs.
Our ultimate goal is to form a partnership between Mod Sanctum LLC and TIME, harnessing the strengths of both the for-profit and non-profit sectors. This collaboration will utilize Mod Sanctum’s website platform to foster modding and game development education and provide career opportunities through the career center.
Mod Sanctum LLC’s ownership is currently divided as follows: 51% by our founder, 39% by TIME, and the remaining 10% by other project contributors. This distribution is based on the value of various donations made to TIME.
As for governance, we are crafting bylaws that ensure Mod Sanctum’s day-to-day operations are managed by Mod Sanctum LLC, while the website’s overall direction is guided by TIME, its directors, and community-elected board members.
Profits generated through subscription accounts will be allocated in proportion to Mod Sanctum LLC’s ownership structure. TIME, as a 39% owner, will receive 39% of the profits, which will be directly invested into Mod Sanctum’s educational initiatives to fulfill our primary goals. Conversely, all donations made through our donation system will go directly to TIME, with Mod Sanctum receiving no share. This guarantees that users who want to support future programs like scholarships can donate confidently, knowing their contributions will benefit TIME.
Our proposed structure offers flexibility for both investors and donors to participate in the creation and growth of Mod Sanctum. In order to uphold our mission, our founder possesses a 51% majority ownership, which helps to ensure that Mod Sanctum stays faithful to its founding principles. This approach creates a harmonious blend of collaborative decision-making while preserving the fundamental values that shape our organization.
We hope this glimpse into our future plans offers insight into our unwavering commitment to furthering modding and game development education. As we embark on this complex and time-consuming journey to refine our corporate structure and bylaws, we are grateful for your patience and understanding.
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