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

[Kris Uebersax]

Concur from W3XG.

Kris

On 12/28/2022 2:08 PM, Phillip Barsky via NCDXA wrote:
> 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 Barsky
> NCDXA Treasurer
> 301-266-6666
>
>
> _______________________________________________
> NCDXA mailing list
> NCDXA at ncdxa.org
> http://mail.rickmurphy.net/mailman/listinfo/ncdxa
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