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Posted by wuffa on May 31, 2007, 12:58 am
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under US code or State of Maine law OR IRS code must a
501(c) corp list and or keep the IRS/state of Maine in
the loop with who's on the Board of Directors with full
legal name and where that person lives?can the membership
ask for this info from the corp?
thanks
william wheeler
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Posted by Condor on June 1, 2007, 10:42 am
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> under US code or State of Maine law OR IRS code must a
> 501(c) corp list and or keep the IRS/state of Maine in
> the loop with who's on the Board of Directors with full
> legal name and where that person lives?can the membership
> ask for this info from the corp?
The following, while not directly onpoint with your
question, will be applicable to many small 501(c)(3) orgs in
2008.
With the enactment of the Pension Protection Act (PPA) of
2006, small tax-exempt organizations that previously were
not required to file returns because their gross receipts
were normally $25,000 or less may be required to file an
annual electronic notice. The first annual electronic
notice, Form 990-N, "Electronic Notice for Tax-Exempt
Organizations Not Required to File Form 990 or 990-EZ," also
known as the e-Postcard, is due in calendar year 2008.
Exceptions to the e-Postcard filing requirement include
organizations that are included in a group return; private
foundations required to file Form 990-PF, "Return of Private
Foundation or Section 4947(a)(1) Trust Treated as a Private
Foundation"; and section 509(a)(3) supporting organizations
required to file Form 990 or Form 990-EZ. In addition, this
filing requirement does not apply to churches, their
integrated auxiliaries, and conventions or associations of
churches.
The e-Postcard will require the organization to provide
basic information, such as their name and address, any other
names they use, a Web address if they have one, the name and
address of a principal officer of the organization, and a
statement that the organization's annual gross receipts are
still normally $25,000 or less.
The information will ensure that donors and the IRS have
current information about these organizations.
The PPA requires the IRS to revoke the tax-exempt status of
any organization that fails to meet its annual filing
requirement for three consecutive years. Therefore,
organizations that do not file the e-Postcard or an
information return (Form 990, Form 990-EZ or Form 990-PF)
will have their tax-exempt status revoked as of the filing
due date of the third year.
Beginning in July 2007, IRS will send letters to over
650,000 small organizations explaining the new rules.
Because most small organizations have little or no contact
with the IRS after they receive their tax-exempt status, IRS
may not up-to-date addresses for them.
Condor
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
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<< Copyright (2006) - All rights reserved. >>
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Posted by pleasedontemailme on June 1, 2007, 10:42 am
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> under US code or State of Maine law OR IRS code must a
> 501(c) corp list and or keep the IRS/state of Maine in
> the loop with who's on the Board of Directors with full
> legal name and where that person lives?can the membership
> ask for this info from the corp?
501(c)3 organizations that are required to file form 990
must list the members of the board of trustees (or whatever
they're called) and give the number of people eligible to
vote at board meetings. You can request a copy of the most
recent form 990 from the organization and it is required to
furnish a copy. Many post it on a website. Older returns
can be viewed at http://www.guidestar.org.
Names are generally listed as first and last, sometimes you
see middle initials or first initials if someone goes by a
middle name. Of all the university form 990s I've read,
I've never seen first, middle, last.
The form does require an address for each member of the
board, but it's the preferred mailing address. It is common
practice for large 501(c)3 organizations to list their own
address for board members.
I am not aware of any rule or law requiring disclosure of
the full legal name and home address.
Starting with the 2005 form 990, additional disclosure is
required regarding relationships among the trustees and
officers.
-Crystal
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by cballard@tyyni.net on June 1, 2007, 10:42 am
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> under US code or State of Maine law OR IRS code must a
> 501(c) corp list and or keep the IRS/state of Maine in
> the loop with who's on the Board of Directors with full
> legal name and where that person lives?can the membership
> ask for this info from the corp?
I don't know what Maine law is on the issue. Corporations
in Michigan are required to file an annual report that is
publicly available and lists the officers and directors.
This information is also available on the organization's
annual federal tax return (Form 990). The directors are
listed in Part V-A on page 5 of the return. A return has to
be filed only if the organization has more than $25,000 in
receipts for the year. You can look up charitable
organizations and get copies of their most recent tax
returns at www.guidestar.org
The addresses that appear on these documents are usually the
addresses for the organization rather than the addresses for
the directors themselves.
--Chris
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Paul Thomas, CPA on June 3, 2007, 10:29 pm
Please log in for more thread options > under US code or State of Maine law OR IRS code must a
> 501(c) corp list and or keep the IRS/state of Maine in
> the loop with who's on the Board of Directors with full
> legal name and where that person lives?can the membership
> ask for this info from the corp?
It's public record, or needs to be if you want to stay
non-profit.
Yes, the IRS and/or state need to be kept "in the loop".
The annual return (990) is where you list the Directors,
Board Members, key employees, etc. There may be annual
filings with the state that include similar information.
--
Paul A. Thomas, CPA
Athens, Georgia
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>
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