Posted by Brendon-KS on January 23, 2019 at 17:04:31 from (63.245.145.17):
In Reply to: Starting a tractor club posted by Grandpa love on January 23, 2019 at 14:24:08:
If you and your friends have aspirations of doing anything major such as acquiring collectibles, putting up a club building, starting an annual show for spectators, or anything else like that you might consider incorporating as a legal not-for-profit. This of course involves paperwork, annual filings with the government, and all that stuff but it opens the door for tax-deductible donations from both individuals and area businesses. A club that has plans of growing needs to be doing something more than just setting around to attract new members and "doing something" typically involves the spending of money. Based on our club's 45 year experience having the ability to solicit tax-deductible donations from outside sources goes a long way in keeping a positive balance in the checkbook. The pre-requisite to legal incorporation would include drafting a set of bylaws and establishment of a governing body. If you do any of the above activities then insurance for your club would also be something to consider and should be considered mandatory if you hold a public show. This puts the club as the responsible party instead of you as individuals if something bad happens.
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