: School me on becoming non-profit
Kurtuleas 01-30-2008, 06:00 PM I have several things in the works with people that depend on FOE becoming non-profit fairly soon. We planned from the start to become a 501C, but the sooner we can become non-profit, the better (Plus we need $$ BAD, we are in the hole)
In these off months we would like to do it, but I have a few questions. (Please forgive my absoulte lack of knowledge on this subject)
1. Exactly HOW do I do it? What do I need to do first? Elect a Board of Directors?
2. How long does the process take?
3. A big one....how much does it cost?
4. Let's say we do not get $$ donations, but somthing else, like if Lance and Camo donated advertising on Pirate....., or if someone donates a trailer to us, do they get a write off still? How much can they write off? The entire amount?
5. Other than no being able to push for a canidate for office, what are the other disadvantages?
So.....whats up you RTF guys? Dennis? Scott?
THANKS!
KURT
64YellowTux 01-30-2008, 06:24 PM I have several things in the works with people that depend on FOE becoming non-profit fairly soon. We planned from the start to become a 501C, but the sooner we can become non-profit, the better (Plus we need $$ BAD, we are in the hole)
In these off months we would like to do it, but I have a few questions. (Please forgive my absoulte lack of knowledge on this subject)
1. Exactly HOW do I do it? What do I need to do first? Elect a Board of Directors?
2. How long does the process take?
3. A big one....how much does it cost?
4. Let's say we do not get $$ donations, but somthing else, like if Lance and Camo donated advertising on Pirate....., or if someone donates a trailer to us, do they get a write off still? How much can they write off? The entire amount?
5. Other than no being able to push for a canidate for office, what are the other disadvantages?
So.....whats up you RTF guys? Dennis? Scott?
THANKS!
KURT
1. Contact Del and he will direct you to the people that can help with the paperwork and filing.
2. I believe that Del started the process in September of 2004 and we got the paperwork from the IRS at the end of May 2005.
3. I am not sure of the actual cost but I believe it to be around $1,000.00.
4. The actual period for write off goes back to the time of filing the paperwork I think.
5. Nothing that can be considered political is allowed and that encompases a lot of ground. I am sure that someone else will add to this one.
This will get you started an all I can say is good luck.
Dennis
navy-jeepster 01-30-2008, 06:25 PM Kurt
I am not expert on this, and do not know it all.
1. Take notes at every meeting, and call them the minutes of the meeting.
2. Write some by-laws for your organization.
3. Figure out who is going to be who/what, in like President, VP, Sec and Treasurer. I think there are a few other postions that also need to be filled also.
I have a file for some of this, and will email it too you.
Todd
Kurtuleas 01-30-2008, 07:23 PM Anyone got an extra $1,000 laying around? :D
Thanks guys! keep it coming please!
kf6zpl 01-30-2008, 08:30 PM http://www.muirnet.net/4x4voice/index.php/muirnet-articles/42-club-organization
Step 1 - file a name reservation with the California Secretary of State
Step 2 - file Articles of Incorporation with the California Secretary of State
Step 3 - provide copies of by-laws and Board of Directors to California Secretary of State
Step 4 - work through some other hoops to satisfy the IRS....
I am at Step 2 with $80 invested....
Once I receive my acceptance of Articles of Incorporation, I am ready to file Step 3.
Kurt, we need to talk. Call me on Thursday after 11 am (619-508-8840)
I should be in cell phone coverage around that time....
Pantheus 01-30-2008, 08:40 PM I was working on a step-by-step complete plan. But I crashed my 'puter and all of that was lost except for about 3 or 4 sentences.
I have done all that John has done... plus very near clearing the IRS ... I've been "talking" with them, and sent the last piece they needed, last week..... I left one damn check box unchecked...
I also have the raffle permit from California ... BUT you need to be "in business a year first".
When I get a new computer and it loaded, I'll get back to the deal about getting this all written down blow by blow.
I'm less than $ 500.00 into it...and think I have all done but maybe one $ 20-25 piece, but I've done it all...not used an outside service, which about doubles the cost..
Ken
Kurtuleas 01-30-2008, 09:30 PM Kurt, we need to talk. Call me on Thursday after 11 am
I should be in cell phone coverage around that time....
Thanks John.
Will do.
Jeepndel 01-31-2008, 06:57 AM I did the Rubicon Trail Foundation with the help of www.mycorporation.com (minimal service, but saved me a lot of work). I think we invested about $500 to do the whole thing, including several days of writing on my part, with reviews and help from RTF Board members.
I just wrote this piece about it and Ken (High Lakes) has really become a recent experience to draw from in all this.
Read my article about: Of Boards and Bureuacracies here. (http://www.delalbright.com/Articles/boards_bureaucracies.html)
And really, John's Muirnet.net has all the tips and tricks, as well as a few legal things to consider. The info is there. And I can tell you first hand that it is very doable for one guy to ram this thru and make it happen.
Del
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