Business like folk

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Business like folk

Postby CT6MFL » Thu Oct 09, 2014 12:07 pm

Do we have any business like folk, lawyers and such that frequent the board?

I have a question concerning my six man league I'd like to bounce off of them:)
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Re: Business like folk

Postby smokeyjoe53 » Thu Oct 09, 2014 12:20 pm

I stayed at a Holiday Inn once................

Seriously, I am retired but still do a little consulting for some of my old clients. I have several attorneys among my contacts.
Let me know if I can help.
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Re: Business like folk

Postby CT6MFL » Thu Oct 09, 2014 1:08 pm

Well I've been contemplating the differences in filing with the state as an Unincorporated Association or a Corporation in order to become a non-profit organization, and then filing with the Feds to obtain 503(c)(3) federal status.

The game of football is not cheap to play and we spend alot of time trying to find funds and donation to help the teams. I believe it would be a little easier if we were documented as non-profit.

So my question is this. For a non-profit organization, governed by a set of bylaws.

Which "status" is the best fit?
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Re: Business like folk

Postby smokeyjoe53 » Thu Oct 09, 2014 1:34 pm

I will ask my CPA but probably would need to know if you have a board of directors, officers, etc.
501C3 or other tax exempt status is not as easy to acquire these days. At least that is my understanding.
I would suppose that an unincorporated association might initially be simpler but for insurance and other matters a corporation would give you more security.
Have you asked Any of the youth leagues about their structure?
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Re: Business like folk

Postby CT6MFL » Thu Oct 09, 2014 1:54 pm

No I have'nt asked a youth league. I didn't think about that.

We don't have a board of directors, but im not opposed to the idea.
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Re: Business like folk

Postby reddogblitz » Thu Oct 29, 2015 10:12 am

Did you ever figure out which way to go?
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Re: Business like folk

Postby CT6MFL » Thu Oct 29, 2015 10:53 am

Nah, never did. The league fell apart due to other issues.
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