imo a 990-t must be filed either way, (not cashing the checks means nothing with a sublease that has the building owners signature on it (as he will be filin it eitherway)), so why not just run it for 6 months. afaik it's too late to do anything else (legally) without pretending events didn't happen which could get us in *real* trouble.
On Thu, Mar 6, 2014 at 12:02 PM, a l <[email protected]> wrote: > I'm not sure how you can claim consensus, when as you've pointed out,there > hadn't been a vote. > My point was that, as far as I understand, just because activity is > taxable does not mean we cannot conduct it.we just need to file and collect > taxes on these activities. As I pointed out this is additional work and the > costs and benefits must be weighed. > > I have requested that this be brought to the vote since it was brought up > in discussion in January. This has not happened. > > Regards, > Andrew L > On Mar 6, 2014 10:32 AM, "Torrie Fischer" <[email protected]> > wrote: > >> On Wednesday, March 05, 2014 10:00:39 a l wrote: >> > Thanks for the relevant sources and calm voicing of concerns. To this >> end: >> > Just because things require taxing does not mean we cannot conduct >> them. We >> > would just need to weigh the benefits and time involved. >> >> As the chief financial officer who is ultimately responsible for >> maintaining >> our tax records, I would very much rather not bring about any potential >> for >> audits. This is *not worth it* and will require substantial effort to >> convince >> me to deal with it, unless someone else wants to doocratically step up and >> handle any unrelated business income and maintain that for the next few >> years. >> The Champions are also welcome to initiate a coup to usurp my position. >> >> We lose physical space, I lose more time for non-treasurer things, I'm >> responsible for even more legal overhead, future treasurers and >> secretaries >> will be responsible for maintaining the paper trail for the next few >> years to >> prevent audit, etc. >> >> And we want volunteers to handle this? I believe I'm exceptionally lucky >> among >> hackerspace treasurers in that I have a flexible situation of office >> space, >> financial advice, and employment. >> >> Is this $600 worth the pain, including this heated argument that has been >> going on for over a week, tearing us apart, and making us look >> dysfunctional >> to the whole freaking planet? >> >> I'm confident that the community of SYNHAK has reached consensus: Do not >> do >> this. >> >> As the Treasurer for SYNHAK, Inc, I wish to inform the board that they may >> disregard their treasurer's advice and concerns at their own risk at the >> upcoming meeting. I am legally obligated by the bylaws to serve the board, >> which I feel I have been doing faithfully and to the best of my abilities. >> >> I think many would agree that I am usually the first to give the benefit >> of >> the doubt regarding trustworthy actions. As a Member, I wish to inform the >> board that the individuals involved have lost my trust and the trust of >> many >> others for not having an open discussion about this up front. >> >> > >> > Regards, >> > Andrew L >> > >> > On Mar 5, 2014 9:24 AM, "Justin Herman" <[email protected]> wrote: >> > > Also since this has been brought up before... >> > > >> > > ...the following activities are specifically excluded from the >> definition >> > > >> > > of unrelated trade or business: >> > > - *Volunteer Labor*: Any trade or business is excluded in which >> > > substantially all the work is performed for the organization >> without >> > > compensation. Some fundraising activities, such as volunteer >> operated >> > > bake >> > > sales, may meet this exception. *[Bake SALE at the proposed >> Auction?]* >> > > - *Convenience of Members*: Any trade or business is excluded that >> is >> > > carried on by an organization described in section 501(c)(3) or by >> a >> > > governmental college or university primarily for the convenience >> of its >> > > members, students, patients, officers, or employees. A typical >> example >> > > of >> > > this is a school cafeteria. *[Selling Arduinos or other >> consumables in >> > > a vending area?]* >> > > - *Selling Donated Merchandise*: Any trade or business is excluded >> > > that consists of selling merchandise, substantially all of which >> the >> > > organization received as gifts or contributions. Many thrift shop >> > > operations of exempt organizations would meet this exception. *[All >> > > the donated Computers?]* >> > > >> > > >> http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Unrela >> > > ted-Business-Income-Tax-Exceptions-and-Exclusions> >> > > On Wed, Mar 5, 2014 at 9:12 AM, Justin Herman <[email protected]> >> wrote: >> > >> This has already be researched.... >> > >> >> > >> http://www.irs.gov/pub/irs-pdf/p1828.pdf >> > >> >> > >> Page 17 Section Rental Income: >> > >> >> > >> "Generally, income derived from the rental of real property and >> > >> incidental personal property is excluded from unrelated business >> income." >> > >> >> > >> It goes on to state HOW it would not qualify. (if there is a >> mortgage, if >> > >> personal services are rendered, if a parking lot is charged) >> > >> >> > >> I thought that this might not relate to us as this doc is targeted >> for >> > >> religious orgs. So I called the IRS before and they stated that this >> is >> > >> for >> > >> ALL 501(c)(3) orgs. >> > >> >> > >> On Wed, Mar 5, 2014 at 9:03 AM, Devin Wolfe <[email protected]> >> wrote: >> > >>> Can you please provide your source? >> > >>> >> > >>> Thanks, >> > >>> Devin >> > >>> >> > >>> Sent with AquaMail for Android >> > >>> http://www.aqua-mail.com >> > >>> >> > >>> >> > >>> >> > >>> On March 5, 2014 8:55:49 AM Torrie Fischer < >> [email protected]> >> > >>> >> > >>> wrote: >> > >>> I'm wearing my treasurer hat for this. >> > >>> >> > >>>> After some digging around, I've come to the conclusion that >> leasing out >> > >>>> this space is incredibly likely to be considered a violation of our >> > >>>> 501c3 >> > >>>> status as it is unrelated income. That $100/mo will need to be >> taxed >> > >>>> and >> > >>>> somehow proven that leasing out our space to non-hacking purposes >> will >> > >>>> further our mission of providing infrastructure to creative people. >> > >>>> >> > >>>> I'm not cashing any checks that arrive. >> > >>>> _______________________________________________ >> > >>>> Discuss mailing list >> > >>>> [email protected] >> > >>>> https://synhak.org/mailman/listinfo/discuss >> > >>> >> > >>> _______________________________________________ >> > >>> Discuss mailing list >> > >>> [email protected] >> > >>> https://synhak.org/mailman/listinfo/discuss >> > > >> > > _______________________________________________ >> > > Discuss mailing list >> > > [email protected] >> > > https://synhak.org/mailman/listinfo/discuss >> _______________________________________________ >> Discuss mailing list >> [email protected] >> https://synhak.org/mailman/listinfo/discuss >> > > _______________________________________________ > Discuss mailing list > [email protected] > https://synhak.org/mailman/listinfo/discuss >
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