What is the name of your state? Tn
Our club was formed in 1976. It has always been said we are incorporated. There are very few of the original members around any more. Because of items of late discusion I have begun to research the origins. I have the deed to the poperty. It says we are inc. Upon further investigation I have found where we first charterd with the state as a corporation. For-Profit/ Non-profit is blank. It also says we are inactive. Went on to find out that the charter was revoced by Dept. of Revenue in 1983. We do not have or raise much money in any year. But another assumtion is we think we are a non-profit organization. We bank our money and only use it for opperating. No one makes a dime for the work they do for this club. Last year my finacial report showed a net gain of $650 or so. This year it looks like it will be more. There has never been a Treas. before me that could or would keep up with the numbers. I have been over some of the old bank books( That I could get a hold of) and found that mostly we lost money by year end.
I need a little help to figure out if we need to talk to the state about our status. Like I said we generaly do not have much money, but we do own the building and grounds. We hold hunts that are licenced by national associations and have people come from all over to attend some of our events. If in deed we are not a non-profit and not incorporated what kinda tax laws should I be looking at. Any help would be greatly thanked as I am doing the best I can with something that is all new to me.
Our club was formed in 1976. It has always been said we are incorporated. There are very few of the original members around any more. Because of items of late discusion I have begun to research the origins. I have the deed to the poperty. It says we are inc. Upon further investigation I have found where we first charterd with the state as a corporation. For-Profit/ Non-profit is blank. It also says we are inactive. Went on to find out that the charter was revoced by Dept. of Revenue in 1983. We do not have or raise much money in any year. But another assumtion is we think we are a non-profit organization. We bank our money and only use it for opperating. No one makes a dime for the work they do for this club. Last year my finacial report showed a net gain of $650 or so. This year it looks like it will be more. There has never been a Treas. before me that could or would keep up with the numbers. I have been over some of the old bank books( That I could get a hold of) and found that mostly we lost money by year end.
I need a little help to figure out if we need to talk to the state about our status. Like I said we generaly do not have much money, but we do own the building and grounds. We hold hunts that are licenced by national associations and have people come from all over to attend some of our events. If in deed we are not a non-profit and not incorporated what kinda tax laws should I be looking at. Any help would be greatly thanked as I am doing the best I can with something that is all new to me.