[Evergreen-governance-l] Bylaws - Question about Dues, Fiscal Year

[Watson, Sylvia]

I can incorporate a provision about a fiscal year.   Please keep in mind that, while I did pattern the Governance Rules to mimic nonprofit bylaws so that conversion to bylaws would be easier when the Foundation breaks away from the SFC, I did not include every area you would normally see in a set of bylaws.  It is my understanding that all the group really needs right now is some organized plan for how it is going to operate as part of the SFC 501(c)(3).  Certainly the plans can include an announcement as to the fiscal year that will be observed if that is what people want.  Once the Foundation gets ready to break away and become an independent legal entity, Articles of Incorporation will need to be created and the Governance Rules will need to be converted to bylaws and tweaked to meet the needs of the Foundation as an independent nonprofit entity, etc.    

I was out this morning, but will proceed through all the comments and try to make an organized list of the group consensus, if there is one.    

Sylvia

-----Original Message-----
From: evergreen-governance-l-bounces at list.georgialibraries.org [mailto:evergreen-governance-l-bounces at list.georgialibraries.org] On Behalf Of Galen Charlton
Sent: Monday, August 30, 2010 11:36 AM
To: Amy Terlaga
Cc: evergreen-governance-l at list.georgialibraries.org
Subject: Re: [Evergreen-governance-l] Bylaws - Question about Dues, Fiscal Year

Hi,

On Aug 30, 2010, at 11:27 AM, Amy Terlaga wrote:
> Also, in reading through this 501c3 bylaws how-to, they mention fiscal year:
>  
> http://www.ehow.com/list_6772343_501c3-bylaws.html
>  
> Tips
> 
> *  An organization's bylaws often include the organization's fiscal year, which is required by the IRS for some tax-exempt organizations.
> 
> 
> I'm not sure how much the Software Freedom Conservancy's governance structure influences ours (if at all).

Since we're starting with a blank slate, matching the SFC's fiscal year (which starts March 1) makes sense to me, unless there is some paperwork advantage to having the EG foundation's fiscal year start closer to when the foundation is incorporated, which presumably is reasonably likely to occur before March 1, 2011.

Regards,

Galen
--
Galen Charlton
VP, Data Services
Equinox Software, Inc. / Your Library's Guide to Open Source
email:  gmc at esilibrary.com
direct: +1 352-215-7548
skype:  gmcharlt
web:    http://www.esilibrary.com/

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