[NCDXA] Urgent Matter - Proposal to Membership to change corporate structure of NCDXA necessitated by resignation of President.

[Fred Matos]

W3ICM votes UP, approving the proposed changes.


-----Original Message-----
From: Phillip Barsky via NCDXA <ncdxa at ncdxa.org>
To: NCDXA <ncdxa at ncdxa.org>
Sent: Wed, Dec 28, 2022 2:08 pm
Subject: [NCDXA] Urgent Matter - Proposal to Membership to change corporate structure of NCDXA necessitated by resignation of President.

To all paid up Full members,

Fred Laun, our President, is presently in the hospital getting treated for Covid and an infection. He is in the ICU at this time. He has informed the board that he will be resigning as President of NCDXA effective 1/1/23.  This has necessitated the following actions.1) To avoid future large accounting fees, we will be closing the present Virginia Corporation effective at the end of the year.2) We will be reorganizing as a Tax Exempt Non-stock Corporation, section 501-C -7 Social Club in the State of Maryland. It will cost $170.00 to establish the Corporation. The present board will initially comprise the required 3 officers and 1 Director ( one of the officers) until we can hold new elections early next year.        a) Additionally we will file for a new Federal ID Number using SS4 form      b) We will file a 1024 Form with our new ID Number, to the IRS, to apply for exemption from taxes. This will allow simple filing of yearly tax reporting via Form 990.      c) A new Checking account will be established at Wells Fargo bank which will contain all of the funds of the present account ($5475.34) minus the $170.00. We will close the present United Bank account and transfer all funds to the new account. 

Please give the board an Up or Down vote, ASAP, on the proposal which will save the club substantial amounts of accounting fees each year, which Fred had been paying out of his pocket. Call me with any questions. 
Respectfully, for the board
Phillip BarskyNCDXA Treasurer301-266-6666
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