Nominet is proposing to establish the Nominet Foundation as way of giving back to the community. Nominet says they have been profitable from their earliest years, and the these profits have been used to fund the development of the business and to accumulate reserves.

With these reserves growing every year, it has become an issue and what they should do with these funds has become a topic of debate within the membership.

The Board is proposing the establishment of a Nominet Foundation for the purpose of public benefit to UK Internet stakeholders through education, research and the funding of suitable projects. The Board has recommended the creation of the Nominet Foundation as a charity and company limited by guarantee, with a first year donation of £5m.

Now Nominet is seeking member and stakeholder feedback up to December 17 on the proposed Foundation and possible beneficiaries.

If you wish to comment and are a member, or are just interested in more information, read the Nominet Foundation paper and they will also welcome feedback by completing their online survey or emailing foundation@nominet.org.uk.

For the news release announcing this, see www.nominet.org.uk/news/latest/?contentId=4618