+Dekaner Posted November 5, 2002 Share Posted November 5, 2002 Have any of the formal Geocaching groups out there tried to wrestle with 501©(7) tax-exempt status? It holds the benefit of tax excempt status as well as making the group elible for donations (though not tax-exempt) as well as grants. Is it worth it? What is everyone else doing to organize and protect themselves? - Dekaner of Team KKF2A Quote Link to comment
+Wander Lost Posted November 5, 2002 Share Posted November 5, 2002 It was brought up at our first meeting. But we decided to table the discussion for another time. One of the items on our agenda is to form a committee to look into the pro's and con's of incorporating. I'm sure that group will also look into the non profit status as well. If any other clubs out there have already done the research on these issues I'm sure your input would be helpful. If ignorance is bliss, why aren't there more happy people?? Quote Link to comment
+T-storm Posted November 6, 2002 Share Posted November 6, 2002 Texas has what is known as the TUUNA act, something like Texas Uniform Unicorporated Non-profit Association act. It provides many of the same sort of benefits of being incorporated without the expense and additional headaches. A not-for-profit club under this act can hold property, be recognized as an entity for purposes of obtaining insurance, and be recognized as an entity in case of a lawsuit in order to protect the officers and membership. Try digging around in your state laws to see if you have similar code that would benefit you. In Texas one does not have to hold federal non-profit status to qualify under the TUUNA act. Unless your club plans to do a lot of printing or buy a lot of equipment or services, you may find federal status not worth your while. With TUUNA, forming some simple by-laws and articles of association is enough. T-storm http://www.cordianet.com/geocaching Quote Link to comment
+carleenp Posted November 6, 2002 Share Posted November 6, 2002 If you need help incorporating or have tax questions etc., try asking professors at a local law school. I know that professors at the Nebraska College of Law have helped non-profit orginations get organized and have answered questions for them. Quote Link to comment
+The Li'l Bears Posted December 30, 2002 Share Posted December 30, 2002 Oops ... replied to the wrong thread ... Sorry, Poppy Bear of ~ The Li'l Bears from Lexington, KY Quote Link to comment
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.