November 1-30, 2010

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Lead Stories

Court Pierces Corporate Veil To Find Personal Liability

Founders of nonprofit credit repair agency liable for $256 million in class action

Association Ordered to Produce Election Ballot Envelopes

Material is considered record of meeting of members under state nonprofit law

Parking Lot Revenue Taxable For Community Organization

Tax Court says members-only beach club parking is not open to community and therefore unrelated
To the Point

Are the board members liable for the debt?

Our 501(c)(3) organization is going to be dissolved. We are in a small town and have tried to raise funds to stay afloat and keep the doors open to needy families, but the economy and lack of funding has made this impossible. The organization owes back payroll taxes. Are the board members liable for the debt?