Corporate status of oVirt and sub-projects

Hi, Is oVirt Foundation (or will it be) an independent corporation with a 501(c)3 status? If so, will the foundation accept sub-project targeted donations? Will the foundation provide legal services for projects? I'm trying to understands the pros and cons of being a member project to help make a case for joining. Even if this isn't in place today or in the near future, if that's where things are heading, it would be useful to know. Regards, Anthony Liguori