Guest Rayne Posted July 10, 2018 at 03:25 PM Report Share Posted July 10, 2018 at 03:25 PM I belong to a 501(c)3 group. Recently 3 elected members, VP, Treasurer & Sgt. at Arms resigned. General membership has declined. What happens to the money in the treasury if the group is disbanded? Thank you, Rayne Quote Link to comment Share on other sites More sharing options...
Chris Harrison Posted July 10, 2018 at 05:15 PM Report Share Posted July 10, 2018 at 05:15 PM 1 hour ago, Guest Rayne said: General membership has declined. Declined what? Quote What happens to the money in the treasury if the group is disbanded? Barring any applicable laws those details should be figured out when the group is disbanded (RONR pp. 503-504). Quote Link to comment Share on other sites More sharing options...
Richard Brown Posted July 10, 2018 at 06:47 PM Report Share Posted July 10, 2018 at 06:47 PM 3 hours ago, Guest Rayne said: What happens to the money in the treasury if the group is disbanded? That is a legal question, not a parliamentary one, and is outside the scope of this forum. If you are incorporated, you are quite likely subject to state (and/or federal tax laws) regarding the distribution of assets of an entity which is being dissolved. Quote Link to comment Share on other sites More sharing options...
Gary Novosielski Posted July 11, 2018 at 05:44 PM Report Share Posted July 11, 2018 at 05:44 PM On 7/10/2018 at 11:25 AM, Guest Rayne said: I belong to a 501(c)3 group. Recently 3 elected members, VP, Treasurer & Sgt. at Arms resigned. General membership has declined. What happens to the money in the treasury if the group is disbanded? Thank you, Rayne What happens to the money probably depends on the exact wording of §501(c)3, and would be a question for your lawyer or tax accountant, as it's not a parliamentary question. But the loss of some elected members doesn't constitute dissolution of the organization. That would be a separate question, tantamount to rescinding the bylaws, and therefore following the rules for amending the bylaws. It's not clear what you mean by "the membership declined." Could you clarify that? Quote Link to comment Share on other sites More sharing options...
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