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Unread 10-26-03, 12:23 AM
Don Hickman's Avatar
Don Hickman Don Hickman is offline
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Join Date: Apr 2002
Location: Bloomington, Indiana
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I wasn't able to make the Nashville meeting so it is with some hesitation that I offer the following thoughts.

According to the home page, Kevin says he has received $335 toward the $600 goal. Keven writes that he has $700 from the Nashville meeting. So, as a group, we have a $1,035, more than enough for the mailing. I suggest that Keven and Kevin get together and make the mailing happen.

Secondly, as regards the type of organization, if any, that we should have, I would suggest an ordinary C corp. Keven could set it up in NC or someone else could do so elsewhere. Everyone who donated or donates would receive a few shares in the corp, say one share for each $10 or whatever. Once each year we have a "shareholders" meeting which coincides with our desired annual fly-in. As for accounting, all we have to do is make sure that our expenses equal our income and while a return has to be prepared and filed, there's no tax. That avoids Skyking's point about all the hassle with a 501(c)(3). And we shouldn't have any difficulty avoiding a profit!

There are some drawbacks, primarily for whoever undertakes to set up the corp and maintain the books. That will require the donation of some time and effort and there's no effective way to share this burden among a group of us.

Or, we could just forget about the formalities, have Keven send the $700 to Kevin and then Kevin can just pay for the mailing. No hassle, no books. Of course, Kevin can then explain that mysterious $1,035 to the IRS when he gets audited.
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