Momentum!
#51
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From: Rural,
AR
Agreed that obtaining the IRS acceptance of your purpose as a 501 (c) 3 is the most difficult part. Having a mission statement can help, but is not required. A mission statement and/or a vision statement are optional. Articles of incorporation, if a corporation, and by-laws are not optional.
ORIGINAL: STLPilot
Not sure of the form numbers, they are at my other office. I know one was 21-22 pages and the other was about 10.
I did want to add and I can tell you first hand model.flyer I know what your talking about in regards to the structure. But the structure of the corporation is the other piece of the NFP which is done well before the 501C3 process begins. When I filled out the paper work the easy parts were to fill in the blanks, check marks and boxes all based on what was already achieved by the completion of the corporation. But what the IRS really wanted to know on these forms and to extrapolate on seperate accompanying documents was what we are going to achieve with this NFP. What really took the longest and needed to be overseen more by the lawyer was the documented portions of the application. Most of that information, if not all of it, was many pages long of written and re-written narrative of what we were going to do, how we were going to do it and to whom we were going to serve. This was by far the most complex part of the process so far. About half of that information came from the bylaws of the corporation.
Not sure of the form numbers, they are at my other office. I know one was 21-22 pages and the other was about 10.
I did want to add and I can tell you first hand model.flyer I know what your talking about in regards to the structure. But the structure of the corporation is the other piece of the NFP which is done well before the 501C3 process begins. When I filled out the paper work the easy parts were to fill in the blanks, check marks and boxes all based on what was already achieved by the completion of the corporation. But what the IRS really wanted to know on these forms and to extrapolate on seperate accompanying documents was what we are going to achieve with this NFP. What really took the longest and needed to be overseen more by the lawyer was the documented portions of the application. Most of that information, if not all of it, was many pages long of written and re-written narrative of what we were going to do, how we were going to do it and to whom we were going to serve. This was by far the most complex part of the process so far. About half of that information came from the bylaws of the corporation.
#52
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From: Manhattan,
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I use the term mission statement very loosely, comprised of many parts of which you have to sell your NFP to the IRS, other then filling out the textbook information. When I file my paperwork, hopefully it will go through the first time. I can assure you with the amount of "other" information I will be giving them, they will have a clear and concise vision of what we are going to achieve, if they feel like reading it all. I don't want to find out if the optional information would have been needed as suggested by our lawyer and accountant.
#53
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From: San Antonio,
TX
M.F spouted:
Like if it is required to publish MA to maintain the AMA IRS status. You have no ability to understand the accounting as proved in your previous posts.
If you know the answer hossfly does not, step up and post it.
If not just keep up with the malarkey.
Like if it is required to publish MA to maintain the AMA IRS status. You have no ability to understand the accounting as proved in your previous posts.
If you know the answer hossfly does not, step up and post it.
If not just keep up with the malarkey.
ORIGINAL: KidEpoxy
MA requirements?
Like if it is required to lose $100k, $500k, $1mil? Is there some mandated loss amount MA has to meet?
Is that the reason it runs so far in the red,
it has to lose $1million or it voids the NFP status?
Or is the a lesser loss we can achieve & still keep tax status?
What would the IRS do to us if we only lost $500k on MA next year?
MA requirements?
Like if it is required to lose $100k, $500k, $1mil? Is there some mandated loss amount MA has to meet?
Is that the reason it runs so far in the red,
it has to lose $1million or it voids the NFP status?
Or is the a lesser loss we can achieve & still keep tax status?
What would the IRS do to us if we only lost $500k on MA next year?
I am more than willing to crack open the MAs to the financial pages, so we can review the monies involved caimed going into MA & out of MA..... that is where it would be, in the required mialings of the NFP newsletter, right? Cause as I posted before, the numbers AMA give out to the membership in the tax required mailing show $1mil in $2mil spent....... or does the AMA keep secret Online Only Stealth numbers not available to the membership via the official information source MA.
The rocket guys keep their NFP and get a quarterly. Lets do that.... and not in the red
#54
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From: Rural,
AR
more hogwash. The IRS requires something? are you sure? Just EXACTLY what is it they require?
You have no idea.
You have no idea.
ORIGINAL: KidEpoxy
Your only apparent answer to my many questions is that AMA is required to be published, without regard to financials of it. Sure AMA is required to publish something to the members, but the IRS shouldnt care if it is MA, MAjr, MA2, MB or some xerox pamphlet in plain text- the requiremnt is not for a Monthly AdvertizerFull magazine $1mil in the red. As far as I know, the Rocketry club(NAR?) gets a quarterly and they dont have Gmen storming their doors over it.
I am more than willing to crack open the MAs to the financial pages, so we can review the monies involved caimed going into MA & out of MA..... that is where it would be, in the required mialings of the NFP newsletter, right? Cause as I posted before, the numbers AMA give out to the membership in the tax required mailing show $1mil in $2mil spent....... or does the AMA keep secret Online Only Stealth numbers not available to the membership via the official information source MA.
The rocket guys keep their NFP and get a quarterly. Lets do that.... and not in the red
ORIGINAL: KidEpoxy
MA requirements?
Like if it is required to lose $100k, $500k, $1mil? Is there some mandated loss amount MA has to meet?
Is that the reason it runs so far in the red,
it has to lose $1million or it voids the NFP status?
Or is the a lesser loss we can achieve & still keep tax status?
What would the IRS do to us if we only lost $500k on MA next year?
MA requirements?
Like if it is required to lose $100k, $500k, $1mil? Is there some mandated loss amount MA has to meet?
Is that the reason it runs so far in the red,
it has to lose $1million or it voids the NFP status?
Or is the a lesser loss we can achieve & still keep tax status?
What would the IRS do to us if we only lost $500k on MA next year?
I am more than willing to crack open the MAs to the financial pages, so we can review the monies involved caimed going into MA & out of MA..... that is where it would be, in the required mialings of the NFP newsletter, right? Cause as I posted before, the numbers AMA give out to the membership in the tax required mailing show $1mil in $2mil spent....... or does the AMA keep secret Online Only Stealth numbers not available to the membership via the official information source MA.
The rocket guys keep their NFP and get a quarterly. Lets do that.... and not in the red
#55
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From: San Antonio,
TX
again, thanx for clearing up my questions with yet more helpful info like
Too bad you are so well loved by folks in this forum, or I'd continue this chat about MA-
Seems the topic Momentum has stalled on a MA tangent
more hogwash. The IRS requires something? are you sure? Just EXACTLY what is it they require?
You have no idea.
You have no idea.
Seems the topic Momentum has stalled on a MA tangent
#56
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From: Manhattan,
NY
I'll clear the question up for you Kid. No, it's not required, but it is suggested. The magazine, in most organizations, is to hold the group together with a lot of information, including ads. Take away the magazine, take away the backbone that holds it together, especially in the case of the AMA. EAA has 6 magazines to choose from for our memebers.
#57
so called model.flyer
Yes, I comprehend. You are not an expert and simply post opinion.
My identity is irrelevant to your postings. Nice excuse for you to hide behind, however.
Yes, I comprehend. You are not an expert and simply post opinion.
My identity is irrelevant to your postings. Nice excuse for you to hide behind, however.
OTOH, I never claimed to be an IRS Expert, however I have been presented the opportunity for SIX straight Audits where even I learned a few things. That was some time ago however the IRS has never questioned my methods since. Maybe we both learned something.
If I were an Expert you would have to PAY for my advice. [>:]
As an individual, I am entitled to opinions and there are times when those opinions are well learned opinions, and there are times they ain't worth the air it takes to blow them out. Anyone hearing / reading one can do with it as that one pleases.
Now I can handle being a non-expert as I have that title in about 99.99 % of my little world. NBFD. OTOH, there is one thing that I do very well. I inform anyone and everyone just who I am, where I am, and what those opinions are. I am not a coward spouting off from behind some mask or safe-house. Those that feel they must remain anonymouse can well do as they please.
OTH if you want something from me, then you have my offer. Other than that, stick it!!
So many are afraid to stand up above the crowd. That is a main reason so many bad things get done, and so few good things get done.
BTW, I have in my magazine collection 12 issues of MA, one for each of the 12 calendar months of 2005 PLUS one EXTRA issue. Now in the world of the AMA EVP and the MA Director of Publications' creative accounting methods, I'm sure that no major differences of costs are evident. Yet an extra copy got thrown in to change the cover month which had creeped back over a number of years. Still in my substandard 2nd grade math, 12 + 1 equals 13. All for 2005, just NOT performed in 2005. H_ll, I have been getting calendars with 2007 daylight time still showing the first Sun in Apr. -- last Sat in Oct. The months are still correct.
#58
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From: Park Rapids, MN
Having been a member of the AMA for a number of years, I can remember when Horrace Cain was an Area Vice President for the AMA. I have great respect for him and all the other folks whom have volunteered there services to the organization! thank you for your efforts "Hossfly!"
#63

My Feedback: (10)
Nope,
Always the same brilliant malcontents chirping about how we are all duped into something that is not working or how little the rest of us know about our membership
.
Even the ones that start with a positive goal like this one can't get past a good idea and move on to another good idea without complaining, insulting, and a few other ings.
Oh well[&o]
Always the same brilliant malcontents chirping about how we are all duped into something that is not working or how little the rest of us know about our membership
.Even the ones that start with a positive goal like this one can't get past a good idea and move on to another good idea without complaining, insulting, and a few other ings.
Oh well[&o]




[:'(]
