[clue] 501(c)3

[F.L. Whiteley]

If you do not have a tax exemption, you may have a tax obligation if you are
in receipt of dues and other considerations.  Failure to pay tax obligations
is a problem.  If you do not have a corporate form, you may have personal
liability.  In consideration of becoming a domestic nonprofit organization,
a review of Title 7, Corporations and Associations, of the Revised Colorado
State Statutes would be useful in creating legal by-laws.
 
I doubt any of this would have an impact on what you already do.  You might
be inspired to do more.
 
Frank

-----Original Message-----
From: clue-bounces at cluedenver.org [mailto:clue-bounces at cluedenver.org] On
Behalf Of Raymond DeRoo
Sent: Friday, February 17, 2012 07:11
To: M Paul Webb; CLUE's mailing list
Subject: Re: [clue] 501(c)3


Paul--



Here is an interesting news article on how the IRS can cause pain over
501(c)3 status, by making formal recognition difficult.
http://www.weeklystandard.com/blogs/claim-irs-won-t-grant-richmond-tea-party
-tax-exempt-status_629931.html


I just did a fast check on the internet, and apparently, the IRS says that
normally filing the form for formal recognition takes 4 hours to understand,
and 8 hours to fill out. I believe all the forms and information can be
found on line. Actually, I think it should be do-able, but it is just a
matter of time. I think I could invest some time on this, if there are
people who want to do it -- I mean working as a small group. Let me know.

(I don't think I understand who my e-mails are going to when I send them).



I believe the issue is a number of member do *NOT* want to see CLUE become a
501c3. There has already been talk of forking a different group from CLUE. I
could see that CLUE filed for 501c3 status that there would an exodus of
members. I have enjoyed the informal and loosely organized nature of CLUE to
date. Now, I could be wrong and that most other members do want to see a
more formal CLUE. Perhaps it would be best to see what the larger group
desires. As officer elections are soon to be held, I think it would be good
if there was a clear direction the membership would like to see the club
taken.

Raymond


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