On July 16th, North Carolina Woodworker, Inc. became a legal entity in the state of North Carolina.
From section 4:
For you the members or lurkers of this site, not really too much. It does, however, mean some changes for the advisory panel and myself. And, it will mean some minor changes in our policies and probably a few more policies. Almost all of these changes will be to make sure we get and maintain our "non-profit" status.
Another thing that is important to note, is that www.ncwoodworker.net is NOT what has been incorporated. www.ncwoodworker.net is a service of the newly formed corporation.
Since we are now a non-profit corporation, does that your donations are tax-deductible. Not necessarily, we have to make application and get it approved by the IRS.
Why have I chosen to do this? Because ncww has become something bigger than my initial desire to share some localized ww info. It needs to be able to continue to operate with, or without me. That really means two things. First, there needs to be people with the responsibility to legally continue its operation. Second, it needs to become financially independent.
From section 4:
Well that's exciting:nah::no::rotflm: but what does that mean?:dontknow:The purposes for which this corporation is organized are to promote and provide education, communication, collaboration, and other services ancillary and reasonably related to the learning and practice of the art and craft of woodworking. The corporation shall exist and operate exclusively for charitable, educational, scientific, and/or literary purposes.
In furtherance of its purposes set forth above, and to the extent necessary to carry out such purposes, the corporation shall have all the powers given to and possessed by a North Carolina Nonprofit Corporation Act
For you the members or lurkers of this site, not really too much. It does, however, mean some changes for the advisory panel and myself. And, it will mean some minor changes in our policies and probably a few more policies. Almost all of these changes will be to make sure we get and maintain our "non-profit" status.
Another thing that is important to note, is that www.ncwoodworker.net is NOT what has been incorporated. www.ncwoodworker.net is a service of the newly formed corporation.
Since we are now a non-profit corporation, does that your donations are tax-deductible. Not necessarily, we have to make application and get it approved by the IRS.
Why have I chosen to do this? Because ncww has become something bigger than my initial desire to share some localized ww info. It needs to be able to continue to operate with, or without me. That really means two things. First, there needs to be people with the responsibility to legally continue its operation. Second, it needs to become financially independent.