Dear Fellow AMCA Members,
As I noted in my last message, I have been working on a review of the applicable IRS rules and standards for social clubs organized pursuant to Internal Revenue Code Section 501(c)7. Let me just say here that our club, and some of its Chapters, may have some problems with IRS compliance. Rather than spell things out, I am providing links to the Internal Revenue Manual covering the subject. You can all read it for yourselves and weep. When you are finished, you will see that there is much work to do.
Let me first note one of the IRS requirements for a 501(c)7 organization. Now, Mr. Spagnolli, are you willing to deal with the “hassle” of letting members have a voice in the organization? Hopefully, you will now acknowledge that the governance structure I proposed some time back makes some sense. Also, it would appear that the evidence is mounting rapidly to conclude that Mr. Wendel has not done a good job of advising the AMCA on its legal obligations.
Rights and Privileges
1. Member’s rights and privileges are as follows:
A. A regular member has the right to vote and determine the management, operation and control of the club. He/she will generally share in the assets of the club in the event of dissolution.