Future Entity Structure Discussion - mesh

19 Apr 2017

Hi all,
At the board meeting on Tuesday, we consented on acquiring 501c3 status by
the end of 2017.
Should we:
1) take over omni's old 501c3? -or-
2) submit our own application for 501c3 status?
*1) - take over omni's old 501c3?*
(a) It doesn't have a purpose at the moment, and we worked hella hard on
procuring it. was a long-form application, so has already been rigorously
reviewed by the irs.
(b) can submit amendments to our Articles of Incorporation changing the
name, primary activities + board of directors (this is what we did for the
ooc -> oc switch)
c) maybe best to wait & hear back from the IRS first (jenny submitted 2014
& 2015 taxes about a week ago) as well as omni's lawyer (jesse palmer)
d) has no assets, but does have 3 years of accounting & credit history. is
up to date on all required gov filings.
*2) - submit our own application for 501c3 status?*
(a) probably best to do a short-form (1023-EZ) application (less overhead &
faster turnaround) - tho that assumes we are not budgeting for more then
$50K annual gross income. contact jenny to get shared on current iteration
of app.
(b) no inherited bureaucratic headaches from ooc (old-omni entity)
(c) more iffy - the IRS only really scrutinizes you when you initially
apply; but they hardly blink on eye wrt amendments to articles, bylaws,
board, etc;
Thoughts appreciated, hopefully we can make a decision on this by Mayday :)
--
<3
Jenny
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