[Theforum] isaac's proposal (more)

[Erika Meyer]

--from Nolo Press Nonprofit Corp FAQ
http://www.nolo.com/encyclopedia/articles/sb/np_faq.html#FAQ-985
<quote>
Is it difficult to run a nonprofit corporation?
Although operating a nonprofit corporation requires some attention to 
detail, as long as you understand and follow some basic rules, you'll 
be fine. The first rule is to hold required meetings of directors and 
members and to keep minutes of these meetings in a corporate records 
book. ....
</quote>


***

A nonprofit corporation is a specific legal entity with certain legal 
requirements & therefore a certain amount of structure.

There is nothing to say that Evolt must be an official nonprofit corporation.

I think 501(c)(3) status would be a good thing, but it would involve 
a certain adherence to structure & care with legal & budget issues.

For example, BoD meetings would have to occur regularly.  & if BoD 
manages the budget, that impacts other various activities.  & if BoD 
manages legal issues, they need the enough oversight to see that 
Evolt is operating as it is supposed to (appropriate activities 
engaged in, money handled properly, etc).  Which means there needs to 
be structure, communication, accountability, etc.

If that's all too much, then maybe the 501(c)(3) status should be 
reconsidered and we can keep our regular "go with the flow" 
management style.

Erika
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