moe_k
03/08/2002, 07:38 PM
Hello everyone;
First I'd like to welcome the new people to the group. The group is growing every week. There are now 103 people on this email list. What a difference a year makes. A handful of you folks might remember the very first meeting at the Rainbow Cafe in the Burlington Mall with all of five attendees. Welcome to all the new folks.
Now on to some business.
Item #1: As you may have heard at our last meeting at the NEAQ, we plan to organize the club and file for non-profit status. Jim Nguyen has investigated the process for us (thanks Jim!!), and has written a pro/con list I will paste below:
Benefit of Tax-Exempt Status under 501(c)(3)
1. Formal recognition of the organization; adds legitimacy.
2. Individual donors can claim federal tax deduction.
3. Exemption from Massachusetts’s sales tax.
4. Eligible to receive public and private grants.
5. Same limited liability protection as for-profit corporations.
6. Receive lower postal rates on some bulk mailings.
7. Organization possesses the benefit of infinite life (meaning that its life is not dependent on its members).
Disadvantages of Tax-Exempt Status under 501(c)(3)
1. High initial set-up cost ($235), and annual cost ($50).
2. Annual federal and state filing requirements.
3. Requires more detailed record keeping (meeting minutes, financial records, organizational documents, etc.).
There are the pros and cons of the non-profit status. Unless there are serious objections to filing for non-profit, we will proceed. The expense of filing will be paid out of the Boston Reefers Society’s treasury. If you object to this proposal, please respond to me via email: moe.kirby@verizon.net or you can reply to info@bostonreefers.org
In addition, I will post the proposal in our forum on Reef Central for discussion. Here is a link to the forum: http://www.reefcentral.com/vbulletin/forumdisplay.php?daysprune=1&forumid=116
Item#2
In accordance with the requirements for filing under 501(c)(3) tax exempt status, the Boston Reefers Society must formalize the group’s officers & directors. Jim Nguyen also thoroughly investigated this matter for us. He wrote up a draft of the by-laws, which will be distributed to all members once it is ratified by the elected board of directors. I will paste the descriptions of the duties of the officers and directors below. These are unpaid, volunteer positions that require a minimum time requirement of one to two days per month. If you are interested in running for office, please submit a brief bio. This bio will help the members decide whom they should elect if more than one person runs for the same office. Currently, we have the following people running :
Maurice (Moe) Kirby as President
Joe Scavo as Vice President
Charlotte Hanks as Secretary
Jim Nguyen as Treasurer
Jim Foster as Vice President of Public Affairs
Section 2. Duties of the Officers
Paragraph 1: The President shall:
a. preside at the regular bi-monthly membership meetings of the Society and at other special meetings of the Society.
b. call the Board of Directors together and preside at the meeting.
c. appoint the chair of all Standing Committees subject to the approval of the Board of Directors.
d. appoint all special committees.
e. be ex-officio member of all committees.
f. call special meetings when necessary.
Paragraph 2: The Vice-President shall
a. perform the duties of the President during any absence of the President, and be ex-officio member of all committees.
b. become President should the President leave the Society.
Paragraph 3: The Secretary shall
a. attend all regular bi-monthly and special membership meetings of the Society and record its date, place and proceedings.
b. attend all meetings of the Board of Directors and keep a full and complete record of the proceedings.
c. be the custodian of all the documents of the Society other than those pertaining specifically to the other offices of the Society.
d. countersign as Secretary of the Society all instruments, papers and documents when asked to do so by the Board of Directors.
e. keep all minutes available for the inspection of the Board of Directors at any of their regular business meetings and likewise available for the inspection of the members of the Society at every regular bi-monthly membership meeting.
f. submit a copy of the minutes of each meeting to the Public Relations committee.
Paragraph 4: The Treasurer shall
a. be custodian of all funds and securities of the Society and as such take adequate precautions to safeguard them.
b. keep a regular book of accounts of the funds and securities.
c. dispense money for the payment of bills and current expenses of the Society as authorized by the Board of Directors and keep the same as a part of Treasurer's records.
d. report upon all the financial transactions of the Society when called upon to do so at meetings of the Board of Directors and at the regular bi-monthly membership meetings of the Society.
e. make the book of accounts of the Society available for inspection by the members of the Society at every regular bi-monthly meeting and available for inspection by the Board of Directors.
f. make the book of accounts available for inspection by any audit committee appointed by the President.
g. receive all dues and issue membership cards, which shall serve as a receipt.
h. prepare all regulatory and tax filings as required under federal and statue statues.
Paragraph 5: The Vice President of Public Affairs shall
a. maintain relationships with sponsors.
b. manage communications to the community through newsletters, the Society’s website, mailings or other means.
c. develop relationships with other marine aquarium societies.
d. perform the duties of the President during any absence of the President or Vice President, and be ex-officio member of all committees.
Section 4. Powers and Duties of the Board of Directors
Paragraph 1: The Board of Directors shall be invested with the following powers and charged with the following duties:
a. to assemble in regular and special meetings when called.
b. to call special meetings of the membership of the Society when deemed necessary and in the interest of the Society.
c. to announce vacancies within the elected offices of the Society.
d. to announce and hold special elections to fill vacancies within the elected offices of the Society.
e. to announce and hold the annual election of Officers and Directors to be held at the regular bi-monthly membership meeting in December of each year.
f. to consider all applications for membership in the Society, and render decisions thereon; or delegate such authority to the membership committee
g. to select and cause to be used an emblem.
h. to approve the membership of all Standing Committees appointed by the President.
i. to authorize any of the elected officers, Directors, or any other member of the Society, or any other persons on behalf of the Society, to execute deeds, contracts, drafts and other obligations necessary or expedient for carrying out the business of the Society.
j. to direct, manage, and control the affairs and business of the Society and adopt rules, regulations and policies for the conduct of the business of the Society that are not inconsistent with the Laws of the United States, the State of Massachusetts, or these by-laws.
k. In the event the President and Vice-President leave their office, the Board of Directors will appoint a President from within the Board of Directors.
That’s about it. Please reply with any comments to moe.kirby@verizon.net or to info@bostonreefers.org Like the proposal to file for non-profit status, I will post the officers & directors duties to our forum on Reef Central for discussion. I would like to thank the following people for all the work they’ve done for the group: Jim Foster, Charlotte Hanks, Jim Nguyen, and Joe Scavo.
Thanks for your time everyone.
Sincerely,
Moe Kirby
First I'd like to welcome the new people to the group. The group is growing every week. There are now 103 people on this email list. What a difference a year makes. A handful of you folks might remember the very first meeting at the Rainbow Cafe in the Burlington Mall with all of five attendees. Welcome to all the new folks.
Now on to some business.
Item #1: As you may have heard at our last meeting at the NEAQ, we plan to organize the club and file for non-profit status. Jim Nguyen has investigated the process for us (thanks Jim!!), and has written a pro/con list I will paste below:
Benefit of Tax-Exempt Status under 501(c)(3)
1. Formal recognition of the organization; adds legitimacy.
2. Individual donors can claim federal tax deduction.
3. Exemption from Massachusetts’s sales tax.
4. Eligible to receive public and private grants.
5. Same limited liability protection as for-profit corporations.
6. Receive lower postal rates on some bulk mailings.
7. Organization possesses the benefit of infinite life (meaning that its life is not dependent on its members).
Disadvantages of Tax-Exempt Status under 501(c)(3)
1. High initial set-up cost ($235), and annual cost ($50).
2. Annual federal and state filing requirements.
3. Requires more detailed record keeping (meeting minutes, financial records, organizational documents, etc.).
There are the pros and cons of the non-profit status. Unless there are serious objections to filing for non-profit, we will proceed. The expense of filing will be paid out of the Boston Reefers Society’s treasury. If you object to this proposal, please respond to me via email: moe.kirby@verizon.net or you can reply to info@bostonreefers.org
In addition, I will post the proposal in our forum on Reef Central for discussion. Here is a link to the forum: http://www.reefcentral.com/vbulletin/forumdisplay.php?daysprune=1&forumid=116
Item#2
In accordance with the requirements for filing under 501(c)(3) tax exempt status, the Boston Reefers Society must formalize the group’s officers & directors. Jim Nguyen also thoroughly investigated this matter for us. He wrote up a draft of the by-laws, which will be distributed to all members once it is ratified by the elected board of directors. I will paste the descriptions of the duties of the officers and directors below. These are unpaid, volunteer positions that require a minimum time requirement of one to two days per month. If you are interested in running for office, please submit a brief bio. This bio will help the members decide whom they should elect if more than one person runs for the same office. Currently, we have the following people running :
Maurice (Moe) Kirby as President
Joe Scavo as Vice President
Charlotte Hanks as Secretary
Jim Nguyen as Treasurer
Jim Foster as Vice President of Public Affairs
Section 2. Duties of the Officers
Paragraph 1: The President shall:
a. preside at the regular bi-monthly membership meetings of the Society and at other special meetings of the Society.
b. call the Board of Directors together and preside at the meeting.
c. appoint the chair of all Standing Committees subject to the approval of the Board of Directors.
d. appoint all special committees.
e. be ex-officio member of all committees.
f. call special meetings when necessary.
Paragraph 2: The Vice-President shall
a. perform the duties of the President during any absence of the President, and be ex-officio member of all committees.
b. become President should the President leave the Society.
Paragraph 3: The Secretary shall
a. attend all regular bi-monthly and special membership meetings of the Society and record its date, place and proceedings.
b. attend all meetings of the Board of Directors and keep a full and complete record of the proceedings.
c. be the custodian of all the documents of the Society other than those pertaining specifically to the other offices of the Society.
d. countersign as Secretary of the Society all instruments, papers and documents when asked to do so by the Board of Directors.
e. keep all minutes available for the inspection of the Board of Directors at any of their regular business meetings and likewise available for the inspection of the members of the Society at every regular bi-monthly membership meeting.
f. submit a copy of the minutes of each meeting to the Public Relations committee.
Paragraph 4: The Treasurer shall
a. be custodian of all funds and securities of the Society and as such take adequate precautions to safeguard them.
b. keep a regular book of accounts of the funds and securities.
c. dispense money for the payment of bills and current expenses of the Society as authorized by the Board of Directors and keep the same as a part of Treasurer's records.
d. report upon all the financial transactions of the Society when called upon to do so at meetings of the Board of Directors and at the regular bi-monthly membership meetings of the Society.
e. make the book of accounts of the Society available for inspection by the members of the Society at every regular bi-monthly meeting and available for inspection by the Board of Directors.
f. make the book of accounts available for inspection by any audit committee appointed by the President.
g. receive all dues and issue membership cards, which shall serve as a receipt.
h. prepare all regulatory and tax filings as required under federal and statue statues.
Paragraph 5: The Vice President of Public Affairs shall
a. maintain relationships with sponsors.
b. manage communications to the community through newsletters, the Society’s website, mailings or other means.
c. develop relationships with other marine aquarium societies.
d. perform the duties of the President during any absence of the President or Vice President, and be ex-officio member of all committees.
Section 4. Powers and Duties of the Board of Directors
Paragraph 1: The Board of Directors shall be invested with the following powers and charged with the following duties:
a. to assemble in regular and special meetings when called.
b. to call special meetings of the membership of the Society when deemed necessary and in the interest of the Society.
c. to announce vacancies within the elected offices of the Society.
d. to announce and hold special elections to fill vacancies within the elected offices of the Society.
e. to announce and hold the annual election of Officers and Directors to be held at the regular bi-monthly membership meeting in December of each year.
f. to consider all applications for membership in the Society, and render decisions thereon; or delegate such authority to the membership committee
g. to select and cause to be used an emblem.
h. to approve the membership of all Standing Committees appointed by the President.
i. to authorize any of the elected officers, Directors, or any other member of the Society, or any other persons on behalf of the Society, to execute deeds, contracts, drafts and other obligations necessary or expedient for carrying out the business of the Society.
j. to direct, manage, and control the affairs and business of the Society and adopt rules, regulations and policies for the conduct of the business of the Society that are not inconsistent with the Laws of the United States, the State of Massachusetts, or these by-laws.
k. In the event the President and Vice-President leave their office, the Board of Directors will appoint a President from within the Board of Directors.
That’s about it. Please reply with any comments to moe.kirby@verizon.net or to info@bostonreefers.org Like the proposal to file for non-profit status, I will post the officers & directors duties to our forum on Reef Central for discussion. I would like to thank the following people for all the work they’ve done for the group: Jim Foster, Charlotte Hanks, Jim Nguyen, and Joe Scavo.
Thanks for your time everyone.
Sincerely,
Moe Kirby