Anyone can join Infinite Metaverse Alliance (IMA) for free to participate in Working Groups (WG). But IMA is much more than a community organization. We function as a community organization, a technology consortium, a standards organization, a philanthropic foundation, and a software products and services company - all with a focus on research, development, design thinking, accessibility, diversity, and open source to advance virtual worlds and virtual reality technologies. We are building IMA from the ground up and the middle out - each new member helps us work towards our collective goals!
For those wanting to sponsor WG projects and IMA research, annual sponsorship helps IMA fund these projects and research. In return, IMA provides these fiscal sponsors with a host of benefits including virtual space, annual expo, learning events, and professional working group tools.
Optionally, sponsoring members can also legally become partner members of IMA to share in any profits made and have access to financial statements. Websites, sign-up pages, and resources for partners are in the works.
To be clear about membership options, there are three types of IMA members: First, there are social members who can participate for free. Second, there are sponsor members who help fund projects and research but are not legal partners of IMA. Finally, there are legal partner members of IMA whose funds are associated with business activities. Sponsors who are not legal partners get all of the same benefits from IMA as those who are legal partners except for profit sharing distributions.
Any member has the option to use their fictional avatar name publicly. IMA will keep all personal identifying information (PII) of those becoming legal partners private. For those wanting to become legal partners, you can find more details below in the Legal Form section.
The following sections describe membership options (Member Type Definitions, Legal Form, Partner Resource and Access Matrix, Sponsor Resource and Access Matrix, and Annual Partnering or Sponsorship by Member Type).
Member Type Definitions
Social Member Type: 100% free participation
Fiscal Sponsor Member Types
|
Research Sponsor: Business, group, or individual |
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Large Group Project Sponsor: Non-business entity with 1000 or more staff/members |
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Medium Group Project Sponsor: Non-business entity with 100 to 999 staff/members |
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Small Group Project Sponsor: Non-business entity with less than 100 staff/members |
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Professional Project Sponsor: Individual |
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Community Project Sponsor: Individual |
Passive Partner Member Types
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Investor Partner: Silent limited partner (business, group, or individual) |
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Large Director Partner: Business entity with $50M or more in annual revenue |
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Medium Director Partner: Business entity with $5M to $50M in annual revenue |
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Small Director Partner: Business entity with less than $5M in annual revenue |
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Professional Partner: Individual |
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Community Partner: Individual |
Active Partner Member Types
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Founders: Laxton Consulting, LLC |
Legal Form - Multi-class multi-member manager-managed Virginia LLC (taxed as a partnership)
How does an LLC work for you? Members can optionally receive passive member interest units (become a legal partner as far as the IRS is concerned) via annual subscriptions. This means you will have to report any distributions (income from IMA to you) and that we need your PII as a partner member to report to the IRS. We will keep this information private if you like so you can use a fictional (avatar name) publicly. We respect your privacy as a matter of policy!
After sign up (except social member types), if you indicated "partner", you will get a link in email leading you to the subscription agreement you will need to sign electronically. This is a legally binding agreement for the term of your subscription. Once in place, when you are vested (have paid your annual contribution to help pay for resources you are provided), IMA will issue you a K-1 (income statement) at the end of the calendar year. Distributions shown on the K-1 are your member interest of net profits after retained earnings.
Active partner members: Laxton Consulting, LLC is the founding member of IMA which provides four C-Level executives with relevant experience and research credentials needed to fulfill the core mission. These executives also comprise the Executive Board and chair the Advisory Board. The Executive Board oversees and manages sustaining engineering, service contracts, grant administration, and staff management while facilitating Research and Development Working Groups. Facilitation occurs via the Advisory Board which represents the interests of the Working Group branch.
Passive partner members: For-profit entities, non-profit entities, and individuals will be invited to subscribe and also participate in Working Groups and/or the Advisory Board or Director’s Council Committees that coordinate the Working Group activities. Because these partner members have no material participation in the day to day operations of IMA, they are subject to IRS passive activity rules. However, they will have a proportional economic member interest as transferees receiving member interest units. While some of these members (those who are not investors) have no voting rights with regards to day-to-day operations of the Research and Development branches, they do have voting rights in the Working Group branch and some seats in the Director's Council and the Advisory Board.
Member Interest Classes
Class A (Executive): founding member interest
Class B (Partner): limited member economic interest only
IMA Staff and Advisory Board members with economic interest only will be deemed transferees not subject to annual vesting of member interest units. Each new employee or advisor will receive at least 50 or 100 Class B member interest units respectively as a profit sharing benefit for the duration of their term.
Subscriber partners with economic interest only will be deemed transferees subject to annual vesting of contributions to help fund the resources provided to subscribers. Number of Class B member interest units per subscriber partner depends on the subscription level annually.
Investor partners with economic interest only will be deemed assignees not subject to annual vesting of contributions. These members make a one time contribution subject to minimum investment to purchase Class B member interest units.
IMA will also champion a rewards/recognition program associated with contributions-in-kind that may lead to assignment of additional member interest units or optional fiscal sponsorship award. Program details will be determined at a later date and announced.
Financial transparency to subscriber partners and investor partners will be reflected on schedule K-1's "Partner's share of profit, loss, and capital" issued annually. Partners will have access to IMA’s annual balance sheet, profit and loss statement, and cash flow statement under non-disclosure via the subscription or investor agreement.
Sponsor Resource and Access Matrix
|
|
Large Group |
Medium Group |
Small Group |
Professional |
Community |
Social |
|
Member Type/Class |
B |
B |
B |
B |
B |
B |
|
Executive Board Seat |
0 |
0 |
0 |
0 |
0 |
0 |
|
Advisory Board Seat |
Elected |
Elected |
Elected |
Elected |
0 |
0 |
|
Council Seat |
Elected |
Elected |
Elected |
Elected |
0 |
0 |
|
# of WG Accounts |
95 |
35 |
15 |
1 |
1 |
1 |
|
Lead WG |
Y |
Y |
Y |
Y |
Y |
N |
|
WG Participation |
Y |
Y |
Y |
Y |
Y |
Y |
|
WG Resource Access |
Y |
Y |
Y |
Y |
Y |
Y |
|
Forum/Wiki Access |
Y |
Y |
Y |
Y |
Y |
Y |
|
Create Topic |
Y |
Y |
Y |
Y |
Y |
Y |
|
Create Events |
Y |
Y |
Y |
Y |
Y |
Y |
|
IMA Test Grid Space |
Y |
Y |
Y |
Y |
Y |
Y |
|
IMA Expo Space |
Y |
Y |
Y |
Y |
Y |
N |
|
IMA Expo Access |
Y |
Y |
Y |
Y |
Y |
Y |
|
Edit Public Wiki |
Y |
Y |
Y |
Y |
Y |
N |
|
Create/Share Content |
Y |
Y |
Y |
Y |
Y |
Y |
|
Social Network |
Y |
Y |
Y |
Y |
Y |
Y |
|
IMA Blog |
N |
N |
N |
N |
N |
N |
|
IMA Intranet Access |
N |
N |
N |
N |
N |
N |
Partner Resource and Access Matrix
|
|
Executive |
Staff |
Investor |
Large Director |
Medium Director |
Small Director |
|
Member Type/Class |
A |
B |
B |
B |
B |
B |
|
Executive Board Seat |
6 |
0 |
0 |
0 |
0 |
0 |
|
Advisory Board Seat |
9 |
0 |
0 |
0 |
0 |
0 |
|
Council Seat |
6 |
0 |
0 |
5 |
2 |
1 |
|
# of WG Accounts |
6 |
4 |
0 |
105 |
37 |
16 |
|
Lead WG |
Y |
Y |
N |
Y |
Y |
Y |
|
WG Participation |
Y |
Y |
N |
Y |
Y |
Y |
|
WG Resource Access |
Y |
Y |
N |
Y |
Y |
Y |
|
Forum Access |
Y |
Y |
N |
Y |
Y |
Y |
|
Create Forum Topic |
Y |
Y |
N |
Y |
Y |
Y |
|
Create Events |
Y |
Y |
N |
Y |
Y |
Y |
|
IMA Test Grid Space |
Y |
Y |
Y |
Y |
Y |
Y |
|
IMA Expo Space |
Y |
Y |
Y |
Y |
Y |
Y |
|
IMA Expo Access |
Y |
Y |
Y |
Y |
Y |
Y |
|
Edit Public Wiki |
Y |
Y |
N |
Y |
Y |
Y |
|
Create/Share Content |
Y |
Y |
N |
Y |
Y |
Y |
|
Social Network |
Y |
Y |
N |
Y |
Y |
Y |
|
IMA Blog |
Y |
Y |
N |
N |
N |
N |
|
IMA Intranet Access |
Y |
Y |
N |
N |
N |
N |
Annual Partnering or Sponsorship by Member Type
|
Type |
Amount |
Council Seats |
WG Accounts |
Leadership |
|
Large Director Partner |
$15,000 |
5 |
105 |
Yes |
|
Medium Director Partner |
$5,500 |
2 |
37 |
Yes |
|
Small Director Partner |
$2,500 |
1 |
16 |
Yes |
|
Large Group Sponsor |
$9,500 |
Elected |
95 |
Yes |
|
Medium Group Sponsor |
$3,500 |
Elected |
35 |
Yes |
|
Small Group Sponsor |
$1,500 |
Elected |
15 |
Yes |
|
Professional (Either) |
$100 |
Elected |
1 |
Yes |
|
Community (Either) |
$50 |
0 |
1 |
No |
|
Social |
$0 |
0 |
1 |
No |
