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MagicBus Inner circle Kalamazoo, Michigan 2869 Posts |
Should an IBM Ring form a non-profit corporation? Advantages? Disadvantages? Costs? Additional reporting and tax requirements? Ideas on how one should go about incorporating a Ring into a non-profit? Any helpful materials/articles published in The Linking Ring on this subject? Your thoughts would be appreciated. Roger from Kalamazoo (just an individual attending member, not a Board member) of http://www.Ring211.org in Grand Rapids, Michigan.
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matthewjones New user 9 Posts |
In most cases YES. The thing to remember is that at the end of the year your ability to carry $$ forward is limited.
Direct from the horses mouth... http://www.irs.gov/charities/ http://www.irs.gov/pub/irs-pdf/p1635.pdf http://www.501c3.org/
Thank you...
Matthew Jones |
Bob Sanders Grammar Supervisor Magic Valley Ranch, Clanton, Alabama 20504 Posts |
Only if the organization is so stable that records and reports don't become a separate problem. Reality is that even insurance is cheaper than volunteer help. Remember that every contact with the government will require more contacts with the government. That takes manpower a club cannot always provide.
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