Question from Mmmm

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Question from Mmmm

Postby BayouBrew » Wed May 13, 2009 9:07 am

We're trying to do some fund raisers for our club and I have a few questions for you guys. I searched through your forum and saw that La doesn't recognize non-profits, but does recognize not-for-profits. Is your club registered as a not-for-profit? If so, how do we do this? I just don't want to lose our money to taxes or have to give it back because we didn't follow the rules. A few potential donor have asked me for a tax ID number too, so I'm just trying to figure out how to get one and what category we fall under. Thanks for your help.
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Postby yeastmeister » Wed May 13, 2009 9:18 am

Its a long and complicated process. We are still in the middle of getting the government approval to be recognized as a non-profit.

As soon as we have the process complete, we will document it and pass it out to all the other clubs in louisiana.
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Postby BayouBrew » Wed May 13, 2009 11:05 am

Great, we will appreciate your input. I assume that getting 501(c)3 status is the limiting factor that is holding you up because getting the actual EIN is easy through the IRS website. I think that I have found a pro-bono lawyer to help us with the 501(c)3 articles of incorporation, so we will probably go ahead and get this started. Do you guys worry about dues and fundraisers being taxed? I guess that it is such a small amount of money that it would probably not be noticed. I really hate getting in to all of this legal stuff because I know so little about it... I'm learning though.
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Postby aleguy » Wed May 13, 2009 11:47 am

What is holding us up at the moment is getting our board together to rewrite our bylaws so they are in keeping with the legal requirements. Then we can put it to a vote of the general membership. If the critical changes pass, I think it's more just a matter of getting the paperwork together and dealing with the government.
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