Good points Spiffcow and YES this is our plan.  The ☯rgcoin Foundation is registering as a non-profit entity in Colorado Springs, CO.  We will also file for IRS 501c status at that time (it will be completed prior to official launch).

The people behind ☯rgcoin are fairly well known on the forums, with good reputations.  These are Isis/Nova!/(gonna change that one soon), and Viceroy.  Once I can track down my password I'll come back here and post a confirmation if that makes you feel better.

The cause and or foundation selected for the monthly endowment will be nominated in the prior month on our forums, then a poll will run for a month with all candidates.  The users will vote on who gets it that month.  Viceroy fans seem to like his polls so maybe he'll chime in from time to time ;-)

For a cause, organization or foundation to actually receive the endowment it will go directly to whomever is designated in their IRS paperwork as Treasurer or other accountant.  In the event it's a cause "Hurricane Victims" etc, we will work with United Way or RedCross to ensure it goes to the intended recipients.  We're not going to exclude non-American companies but lack of registration with the IRS might delay our vetting process.

To be clear, anyone can register or nominate an organization that they feel is worthwhile.  It can be anything from something as big as United Way, all the way down to "Support a Local Arts program at Public School xyz".  We will work out who the actual recipient is supposed to be (who we hand the check to) using regular due diligence procedures.  The same common sense approach that you would take before cutting a check to a charity.