Nonprofit Status Committee

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(Definition of Terms)
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* Total Support - All of the applicable revenues of the organization.
 
* Total Support - All of the applicable revenues of the organization.
 
* Unrelated Business Income - Any income that does not match the exempt purpose of the organization.  The Unrelated Business Income must be tracked separately, and the organization is required to pay all applicable taxes on it.
 
* Unrelated Business Income - Any income that does not match the exempt purpose of the organization.  The Unrelated Business Income must be tracked separately, and the organization is required to pay all applicable taxes on it.
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==Organizing Documents==
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As the Form 1023 requires specific items to be included from our organizing documents, we will need to amend our charter and bylaws to make sure that we appropriately limit our organization to exempt purposes.  Here is a list of some of the things we will need to change:
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*We will need to amend our charter with the state of TN using this [http://www.tn.gov/sos/forms/ss-4416.pdf form].  The filing fee for this form is $20, and we will probably need a vote of the membership to authorize the amendment to the charter.
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*We will need to update our bylaws to limit the organization to exempt purposes, and to comply with requirements specified for exempt organizations. 
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**We need to update Article X on dissolution at the very least.
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*While not specifically mentioned anywhere, we need to update our mission statement.
  
==Questions==
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NOTE: None of the items above on the wiki should be changed directly.  The content should be copied to a proposed page, and changes highlighted there.
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==Form 1023 Questions==
 
===III.1===
 
===III.1===
 
Section 501(c)(3) requires that your organizing document state your exempt purpose(s), such as charitable,
 
Section 501(c)(3) requires that your organizing document state your exempt purpose(s), such as charitable,

Revision as of 16:35, 16 November 2012

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