20 Nov
2014
20 Nov
'14
1:50 p.m.
I've been told that Once a property is acquired by
a 501c3 it is very
complicated to sell it.
Indeed. However you could own a property outright for less than one years
rent. If needed it could be rented out or sold to another 501c3 or local
government entity.
On Thu, Nov 20, 2014 at 1:27 PM, Alice Rosenthal <
beehappysolutions(a)gmail.com> wrote:
I've been told that Once a property is acquired by
a 501c3 it is very
complicated to sell it.
Alice
415-272-0596
On Nov 19, 2014, at 12:45 PM, Autonomous wrote:
Here's a correction, sorry:
Once 501c3 status is obtained then it is possible under California law to
acquire a tax foreclosed property for the price of taxes due only.
On Wed, Nov 19, 2014 at 12:42 PM, Autonomous <autonomous666(a)gmail.com>
wrote:
Prior to meeting with the attorney it would be
good to prepare a "purpose
statement" that describes the activities of SudoRoom that qualify for
non-profit status. A few other hackerspaces have acquired 501c3 status.
Here is an example:
The Geek Group provides access to science, technology, engineering and
math by developing programming and facilities for
individuals and
institutions to learn, explore, innovate and play at an independent pace
according to their needs.
http://thegeekgroup.org/about-2/mission-statement/
Obviously the educational activities of Sudo Room would qualify as a
public benefit or charitable purpose. There's also a number of other
qualifying purposes having to do with community welfare, defense of human
and civil rights secured by law and so on.
Once 501c3 status is obtained then it is possible under California law to
acquire tax a foreclosed property for the price of taxes due only. There
are a number of interesting properties available in Oakland that would
serve your purposes.