bobby1011
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Posts posted by bobby1011
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Chris: Thanks for the clarification. bobby101
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jstackpo: I don't understand your comment or the reference to Proverbs 15:1
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Jonathan: Thanks for following up. I'm just very concerned that this proposed by-law change may be implemented without proper professional attention, consideration and knowledge. bobby1011
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Mr. Brown: Thanks for your response. It's very similar to what I suggested when I was informed that this action was being considered. My hope is that the organization followed this advice. bobby1011
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Jonathan: Thanks for getting back so quickly. I understand and agree with your point about the by-laws and the ability of the membership to change them. My question, and I'm neither a lawyer or a tax authority, deals with the effect of this action, if it passes, on the status of the organization. When I became aware that this approach was being considered, I suggested that both a lawyer and a tax accountant be consulted; I don't know whether this has happened. I was hopeful that some member of this forum might have had exposure to this issue and had some comments/advice on how to proceed. bobby1011
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My wife is a long-time member of a non-profit recreational organization. The current by-laws state on dissolution the assets, after debt is paid up, are to be distributed to non-profits engaged in similar activities. A change is being proposed where on dissolution the assets will be distributed in the following way--5% to a similar non-profit and the balance (95%) to the membership who have been members for more than 10 years. I've looked at about 5 or 6 different on-line sites about this topic (federal and state) and it doesn't appear that this can be done. Appreciate any thoughts and comments. Thank you, bobby1011
bobby1011
in General Discussion
Posted
Nancy: Sorry for the confusion--I mixed up my responder's name. bobby1011