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Thread: Steering Committee Report

  1. #1
    Join Date
    Feb 2005
    Posts
    169

    Steering Committee Report

    The Steering Committee has been researching the prospect of obtaining non-profit status for ArkGeo. We now have enough information to provide more detailed information.

    We have negotiated with a lawyer to provide a turnkey project for $700. This price includes all filing fees and materials needed to establish ArkGeo as a non-profit organization.

    Incorporation filing also requires that the organization have a registered agent. Securing a registered agent for ArkGeo will cost $25 per year. This person will basically act as a liaison between the IRS and ArkGeo, to insure that we receive and act on important notifications.

    There are many benefits to being nonprofit. These include:

    1) No taxes (unless we average more than $25,000/year in gross receipts). This means we can use more of our money to accomplish the goals set forth in our mission statement.

    2) Increased legitimacy with donors, land owners, and other organizations.

    3) Nonprofit incorporation will formalize our goals and help maintain organizational focus as we grow. As a nonprofit, ArkGeo will continue to exist beyond the involvement of the people who are managing it. This longevity and perpetuity is also attractive to donors.

    4) Members and officers will be protected from personal liability. Creditors can go after only corporate assets, not the personal assets of the people who manage, work for, or volunteer for ArkGeo.

    5) Developing the required nonprofit documents force us to be clear about our mission, think through our operating rules, and develop procedures for decision making. Clear-cut delegation of authority and specific operating rules embodied in the articles of incorporation and bylaws will make running the organization easier and less divisive.

    There are a few drawbacks as well. The initial cost to file is non-trivial, along with the time and energy needed to comply with regulatory requirements. There will also be some restrictions, including no pay for directors and no political campaigning or lobbying. Also, when ArkGeo folds, its assets must be given to another nonprofit.

    Some proposed bylaws that incorporate all of these items will be presented soon.

    Your continued patience is very much appreciated as ArkGeo works through this process.

    Steering Committee
    Arkansas Geocachers Association

  2. #2
    Join Date
    Feb 2005
    Location
    Cachin' America's Heartland
    Posts
    449
    Great report !
    Thanks for the update.

  3. #3
    Join Date
    Oct 2006
    Location
    White Hall
    Posts
    36
    I'm pretty new to the web site and even to geocaching. I have only met a few folks who are on this web site when I attended the NE Arkansas Meet & Greet. However, as a CPA who has experience in the non-profit world (I work for a non-profit hospital), I am willing to provide any assistance I can.

  4. #4
    Join Date
    Jun 2004
    Location
    Fort Smith, AR
    Posts
    846
    jacksonb Thanks for the help we might be calling on you.
    If your not living life on the edge your taking up too much space!!!!!!


  5. #5
    Guest
    Incorporating as an entity that isn't a 501c reaps all the same benefits you've described, with the exception of the first $25,000 being tax free.

    I'm not sure how much, if any, of a "for-profit" organization can make and be tax free, though I know for an individual it is $2,000. Also this prohibition against lobbying...isn't that exactly what we want to be doing with trying to get more geocaching freindly laws & regulations? Isn't that what giving presentations to the AGFC and other land managaers would be?

    Seems more research is in order...

  6. #6
    Join Date
    May 2004
    Location
    Conway, AR
    Posts
    1,392
    Quote Originally Posted by ar_kayaker
    ...this prohibition against lobbying...isn't that exactly what we want to be doing with trying to get more geocaching freindly laws & regulations? Isn't that what giving presentations to the AGFC and other land managaers would be?

    No. Nonprofits are expressly prohibited from intervening in a political campaign of any candidate for public office, and from engaging in partisan activity of any kind. In addition, charities may not use government funds to lobby.

    Any activity that does not meet these criteria is regarded as advocacy, which nonprofits may conduct without limit.

    Wayne
    I get my directions from above.
    View my profile

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