HCC Constitutional Amendment
by Harmon Everett
Please attend the June HCC membership meeting in order to vote on an amendment to the Houston Canoe Club Constitution. As reported at the last general meeting, in order to have our 501(c)(4) tax-exempt status reinstated by the IRS, we need to have a statement in our Constitution that says where any assets of the club will go if it ever dissolves. The IRS wants to make sure that the club is not a profit-making activity for the executive board.
To add that clause to the Constitution, we would like to have the general membership vote on an amendment to the HCC constitution at the June membership meeting. The amendment will bring the HCC into compliance with the requirements of the IRS in order to regain the 501(c)(4) classification for the club.
The proposed amendment is as follows:
"In the event of dissolution of the Houston Canoe Club, the Executive Board shall, after paying and making provisions for the payment of all liabilities, distribute all the assets of the corporation over to an organization, or organizations, dedicated to charitable and/or educational purposes and which have been recognized as 501(c)(3) or 501(c)(4) organizations by the Internal Revenue Service."The Executive Board's intent would be to distribute any remaining assets to the organizations that support water and river preservation activities such as the organizations that we already support. Since we cannot tell what those organizations will be named in the future, we will not put their specific names in the amendment, so as to allow the future Board the freedom to make those decisions at the time, in the unlikely event that this club ever dissolves.
Harmon EverettIf you have any questions, please email me, firstname.lastname@example.org
On behalf of the Executive Board of the Houston Canoe Club, Inc.