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Post by Lucid on Nov 29, 2006 2:28:18 GMT -5
Do you want to make SA3GO a non-profit organization?
I really need feedback on this one guys, we need to really discuss making this organization official. If we were to incorporate we have to adopt bylaws, hold annual meetings and elect officers. I would say this is an educational organization, in that case.
There are perks to being a non profit though, companies can sponser you, you can get bandwidth usually from a hosting company, and people can make donations. There is also limited liablity, tax exemptions (even on property - garage anyone?).
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Post by Jim on Nov 29, 2006 23:29:42 GMT -5
Definetly have to talk about something like that in our next meeting.
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urslo
New Member
Posts: 25
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Post by urslo on Jan 1, 2007 9:47:24 GMT -5
I was thinking about signing up as a sponsor, but I am not sure what all you have to do to be a sponsor. I am a licensed real estate agent and would be interested in sponsoring the site if that is possible.
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Post by Lucid on Jan 2, 2007 3:27:31 GMT -5
Hey Sean, We were supposed to talk about sponsorship and being a non-profit at the last meeting, but we didnt get around to it. If you have any suggestions that would help, feel free to let me know. I will start reading up on non profit organizations and try to figure out what we need to do to get started as such.
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urslo
New Member
Posts: 25
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Post by urslo on Jan 2, 2007 15:57:02 GMT -5
I really don't know anything about it myself. I was just offering the service to guys on the board here and also to help make the club stronger.
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Post by Lucid on Jan 2, 2007 17:40:52 GMT -5
We do appreciate it, ill keep you informed on any upcoming decisions.
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Post by Lucid on Feb 21, 2007 16:04:43 GMT -5
I really need everyone's help on this one, what exactly do we need to do to become a non profit organization officially?
The business guidelines and guidelines for a non profit seem to be closely related, the main difference is the goal for the organization : ie making a profit or not.
Some key points i need help in getting information and deciding:
-What paper work do we need to fill out with the tax office?
-Can we claim tax exempt status when we do file?
-Do we need to hold elections, formulate bylaws and assemble?
-Can we operate without incorporating as a 501c?
-Home base for operations (or at least an address.. PO BOX???)
-What kind of non profit organization are we (ie educational..etc )
The more information we can gather quickly, the easier it will be for us to attain the goals of the organization.
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Post by Lucid on Feb 27, 2007 20:41:01 GMT -5
Ok this is what i have gathered:
There is a distinction between a nonprofit incorporated organization and a nonprofit unincorporated association. Right now we are the latter, the association, a group of people with similar interests with a common shared purpose.
The organization is now a legal entity, it can hold title to property, it is separate from the members that comprise it. As it stands right now, we can receive donations and discounts, but we are not tax exempt at this time.
What we are going to need to do is have someone keep the official records of the organizations activities, they have to be available to all the members of the group for inspection. At this point, the message board is the most viable option, so for the time being it is holding our records.
I do want to look more into fund raising and what we need to do to legally have income coming in to fund our activities. I have a vision for an SA3GO garage, in big letters, with a lift and tools.
We can have income coming in, but profits cannot be disbursed to members of the organization, they must remain in the funds of the organization to continue operations. So the next thing we need is to start a bank account (or credit union account) in the name of the organization, i.e. San Antonio 3rd Gen Organization.
Someone will need to be in charge of the treasury or financial transactions of the operations and make sure that we are in compliance.
Also, if need be, we need an address that will be the official address of the organization to receive correspondence. If at some point in time the organization would be served, someone must file with the secretary of state as the official agent of the organization.
More to come soon...
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Post by Jim on Feb 28, 2007 17:32:26 GMT -5
Keep it comming. SA3GO garage with a lift and tools?? That would require A LOT of funds.
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Post by Lucid on Feb 28, 2007 23:51:06 GMT -5
Keep it comming. SA3GO garage with a lift and tools?? That would require A LOT of funds. How much is a LOT of funds? and do we have a location in mind?
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