501c3 dissolution

[csi7]

What is the name of your state (only U.S. law)? Florida
My question is how to dissolve a 501c3 funds to a specific organization?
We had a question come up about what would happen to the funds we have in our non-profit organization that are going to the organzation as we are in control of the funds.
We have been advised that we need to have the dissolution of the funds written in our by-laws so that the funds go directly to the account strictly used by this organization, and not in the general funds since the organization has voted against using the funds for any purposes other than this specific organization.
I have researched and only been able to find that paperwork of dissolution must be filed with Secretary of State, the form to IRS is the last one to be done since the paperwork with Secretary of State must be included.
Any help is appreciated.

 

[LdiJ]

What is the name of your state (only U.S. law)? Florida
My question is how to dissolve a 501c3 funds to a specific organization?
We had a question come up about what would happen to the funds we have in our non-profit organization that are going to the organzation as we are in control of the funds.
We have been advised that we need to have the dissolution of the funds written in our by-laws so that the funds go directly to the account strictly used by this organization, and not in the general funds since the organization has voted against using the funds for any purposes other than this specific organization.
I have researched and only been able to find that paperwork of dissolution must be filed with Secretary of State, the form to IRS is the last one to be done since the paperwork with Secretary of State must be included.
Any help is appreciated.

You are going to need professional help to deal with this one. However one way to handle leftover funds at the time of dissolution would be to donate them to another charitable organization after all of bills of the dissolving 501 (c) 3 organization have been paid.

 

[csi7]

Thank you. The concern is ensuring that the funds go directly into the specific organization account and not the general access funds.

 

[LdiJ]

Thank you. The concern is ensuring that the funds go directly into the specific organization account and not the general access funds.

Then I am not understanding what you need to "dissolve". Anything done with the Secretary of State would be dissolving an entire organization. It wouldn't have anything to do with dissolving a specific "fund" within the organization, unless you have a separate 501(c)3 for each of your bank accounts/funds. If you do have that, I do not understand why.

If you have just one organization and you have earmarked certain monies and want to keep them separate, then simply open another bank account earmarked for that particular purpose and keep them separate.

 

[csi7]

I have been advised to approach a member of the city council with this query as there is not a specific form available to use.
Thank you again.