I briefly spoke with someone today and was informed that for the purposes of having a sole proprietorship, and for the explicit purposes of having a non-profit entity that is a sole proprietorship, I would not need to create a legal corporation, but am free to conduct business as me personally.
As such, I'll begin this work once I get the website registered for the security research division of Liberty Software Foundation.
My goals are a comprehensive analysis of IBM's 4.52 kernel and essential DLLs, looking specifically for weaknesses in the application loader, executable binary file formats, APIs (unused parameters, places where passing in purposefully crafted incorrect parameters might trigger unexpected behavior that could be exploited), weaknesses in the use of particular functions rather than other ones, potential buffer overrun errors, ways to introduce exploit code (which allows injection of binary code into the system to be run instead of the actual app's code), corruption of the stack, and other related issues, all through purposeful means.
I intend to create reports on each aspect of testing, and to provide the source code used to conduct all testing so my results can be verified by independent third parties.