Club Has Incorporated

[jim]

All we are waiting for is the original paperwork to be returned to us along with a letter from the County of Lake stating that DISContinuum Disc Golf Club of Northeastern Illinois is officially incorporated as a not-for-profit, amateur athletic organization.

Hooray!!!

What this means primarily is that the club does not have to pay taxes and can accept donations from sponsors or contributors. These donations are tax-deductible for the donors. This can be a big attraction (or obstacle-remover) for many would-be contributors.

This will have been the culmination of many, many hours of study and work by Paul Christensen, Jason Hany, and myself. Learning all about incorporation, tax laws, etc., has been a trip. Paul by far understands things best and will need to educate a willing Ops committee member or the Big Cheese on how do file at the end of the year.

We need to talk about the way we handle our finances in general and should make that a mid-level priority soon, I think.

[mirth]

Sweet! I'm sure the sponsor I've found for the IO will be thrilled to hear this & it could help encourage him to become a full club sponsor.

[jim]

Rockin!!!!  Who?

[Jon Brakel]

We should probably say something like that donations may be tax deductible, consult your tax preparer or accountant for specific tax information. We can probably just copy the statement that some other not for profit organization uses. We just don't want to be giving people tax advice.