D
doonboggle
Guest
What is the name of your state? Nv
We have a non-profit corporation recently created for the purpose of veterans reunion. Monies were collected during reunion by board member for sale of caps; with understanding and committment that these funds were to be "turned in" at end of process for deposit into corporate account.
Instead, this board member, newly elected at membership meeting for upcoming year, and appointed President, 'seized' money and with former treasurer, but without new board approval or corporate resolution, opened a new non-corporate account; and put funds in it. Demand was issued for return of funds and to follow normal corporate resolution procedures...to no avail.
Former board member (me) is now 'safeguarding' other corporate monies from corporate account pending return of 'seized' money; and corporate resolution procedure.
Question #1....should former board member even be involved in attempting to correct illigitmate actions; or should the situation be 'ignored'?
Question #2....indication is that 'new' board may not file IRS return. Does former board members, and initial officers as well who 'created' corporation, have any future exposure from IRS for past due taxes?
We have a non-profit corporation recently created for the purpose of veterans reunion. Monies were collected during reunion by board member for sale of caps; with understanding and committment that these funds were to be "turned in" at end of process for deposit into corporate account.
Instead, this board member, newly elected at membership meeting for upcoming year, and appointed President, 'seized' money and with former treasurer, but without new board approval or corporate resolution, opened a new non-corporate account; and put funds in it. Demand was issued for return of funds and to follow normal corporate resolution procedures...to no avail.
Former board member (me) is now 'safeguarding' other corporate monies from corporate account pending return of 'seized' money; and corporate resolution procedure.
Question #1....should former board member even be involved in attempting to correct illigitmate actions; or should the situation be 'ignored'?
Question #2....indication is that 'new' board may not file IRS return. Does former board members, and initial officers as well who 'created' corporation, have any future exposure from IRS for past due taxes?