IMBA Chapter Program, is it right for FORC?

[Gunchie]

FORC actually has received thousands of dollars in donations, as well as a $5,000 grant just this year. It has been said that a couple companies would have been willing to donate more if we were 501(c)(3), but regardless of the information that Drew posted earlier, I know FOR A FACT that at least two companies have claimed their donations to FORC on their taxes. What kind of actual "deduction" they received, I have no idea.

Yes, I'm aware of the money we have received, but how many organizations might have done there homework before approaching FORC about donation and never did because we're not 501(c)(3)? Or, if we wanted to pursue donations from organizations, how many would decline because we are not? Unfortunately, as long as we're not an IMBA chapter we will never know those answers. Okay, having 501(c)(3) may not guarantee we get huge donations, but having it does give us more potential to do so. Listen, I'm not saying being an IMBA chapter is right or wrong for FORC since I no longer live in the area, I just wanted to illustrate that we need to get past the 'less returns in membership fees' topic to really see the big picture here.

[SweetSVT99]

Yes, I'm aware of the money we have received, but how many organizations might have done there homework before approaching FORC about donation and never did because we're not 501(c)(3)? Or, if we wanted to pursue donations from organizations, how many would decline because we are not? Unfortunately, as long as we're not an IMBA chapter we will never know those answers. Okay, having 501(c)(3) may not guarantee we get huge donations, but having it does give us more potential to do so. Listen, I'm not saying being an IMBA chapter is right or wrong for FORC since I no longer live in the area, I just wanted to illustrate that we need to get past the 'less returns in membership fees' topic to really see the big picture here.

Like I said, we've had some say that if we were 501, they would have given us more. I have not heard any one of the people who've pursued donations for our races and such say that someone specifically said they were not going to donate because we didn't have it though. Maybe they were the ones that we simply never heard back from, I guess we'll probably never know. The bottom line though, in my mind, is that 501 is not needed for FORC unless we are going to go after big money to build the Bike Park (or any other project) that has been discussed. For the record: Those that have expressed their interest in giving more if we were 501 were going from ~$500 to ~$1500, and while the generosity is MUCH appreciated, would have made or broken us about as the 60%/increased dues probably will.

I do think the membership fees should be part of the discussion, though maybe not the focal point of it. I think 60% of our dues, and the fact that our dues will increase, is something that everyone who intends to vote (hopefully all FORC'ers!) should be aware of. Hopefully all the facts, opinions, arguments for, arguments against, are all being soaked in by those that intend to vote. This is a big decision for FORC, and FORC Membership gets the unique opportunity to make the decision! Many clubs do not afford their membership the ability to actually vote to determine the direction they take!

I'm not arguing for or against it here either, I'm just throwing some facts out there as I know them. There are things I like about the Chapter program, and there are things I don't like.

[Tigris99]

SOrry I missed this months meeting, had a choice of ride or meeting, hehe, chose to ride.

That being said, I have been keeping up on all this and did make last months. Personally I say go for it, simply because what do we have to loose. Club officers are good with it, so club pays in, if its not for us, we leave....

IMBA wouldnt be what it is if there wasnt plenty of good that comes from it. Ok so membership dues go up a bit per year, but whats $50 a year really???? Just over $4 A MONTH!!! I accumulate that in change on the floor of my vehicles every month. Id have no problem personally paying that (or even a little more) and I can bet im on the lower end of the income lvls of club members. Ok so IMBA takes a % of dues, we all pay a little more, then clubs income stays the same give or take from dues.

As for the whole 501 status, being my experiences, that will make a difference in donations the club receives. Companies/people are going to donate more when they can right off the max allowed by the IRS. Gotta look at donations from a business perspective. Tax write-offs. Yes without 501 some is still able to be written off but smaller % is allowed as a deduction. The more that can be written off, the more they are going to donate as it means less income/profit that gets taxed. Thats at least how my friends wife that is an accountant explained it to me when I was doing the whole internet business thing.