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Message Icon Topic: Not for Profit forfeiture?(Topic Closed Topic Closed) Post Reply Post New Topic
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Joined: 9/27/05
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bullet Topic: Not for Profit forfeiture?
    Posted: 11/03/05 at 3:52pm

Perhaps one of the not for profit gurus could enlighten me :)

I recently registered a not for profit theatre (and am currently finalizing bylaws Thank you Dougb for your wisdom!). I've been looking up local area theatres just out of curiousity and am finding a LOT of not for profits in and around my area are expired or forfeited with the state they are registered in for not filing annual reports. Several others never filed ammendments when new people took over the group, etc. Its really interesting.

I saw that there is a law as of August 2005 that allows a not for profit that was forfeited for not filing an annual report to reinstate by paying the necessary fees, unless the report was not filed as a result of military service.

Is there a statue of limitations on forfeiture?

I'm creating a file of NFP information and things that need to be done just in case anything were to ever happen to me the rest of the board/group would be able to pick up where I left off. Annual reporting is on my list.



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Joined: 8/28/06
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bullet Posted: 8/29/06 at 4:21pm

Our theater company almost lost our non profit status because of a Board that was not paying attention to details. Usually a statement comes once every other year in an "even" year. Make a book of "neccessary" paperwork. Keep in this book which the President should be in charge of a copy of all paperwork that needs to be turned in , with due dates, etc. I keep several statements on file all dated at the top with due dates, so we needed even wait for the statement to arrive. These are available online at the Sec of State site. Thhis way the President can look through this book once a month and see what is coming due, whether it be bills, or legal obligations, etc. It works and takes the guesswork out of all of it. We just paid the 20.00 fee for reinstatement with a letter of explanation, and we were reinstated. DONT let it get that far because while you are on suspension you cannot have any shows and cannot even use the name or your organization legally for anything.

Be theater...........breathe theater.
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