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Lead Stories
Director Liable to Association For Breach of Fiduciary Duty
Director-manager charged unauthorized fees, used funds for personal benefit, falsified records
Attorney Must Deliver Files To Surviving Entity after Merger
Agreement and statute provide that all rights and property of merged corporation vest in surviving corporation
No "Professional” Standard of Care To Find Negligence on Bike Tour
Court says safety standards are not outside the common understanding of the jury
Ready Reference
IRS Issues Procedures To Recover Lost Exemption
Automatic revocation for failure to file returns catches 275,000 nonprofits, though many defunct
To the Point
Will this affect our ability to get (c)(3) classification?
Our Orchid Society provides education on orchid culture to our members and other clubs who request our service. We have applied for 501(c)(3) charitable and educational classification. We have an annual orchid show and plant sale as our only fund raising event. Our members sell plants and supplies at this function and provide us with 20% of the sale proceeds. I've been told that this is wrong and it appears that we are organized to benefit the members. Will this affect our ability to get (c)(3) classification?