Pros and Cons of a 501(c)(3) Soaring Operation

I would like to know the Pros and Cons of a Soaring Club
becoming a 501(c)(3) organizations. We have 25 members
and growing. We own 3 gliders and a Piper Pawnee.

Thanks for your time!

Randy Teel

Tulsa, OK

On 3/6/2012 10:46 AM, Randy Teel wrote:
I would like to know the Pros and Cons of a Soaring Club
becoming a 501(c)(3) organizations. We have 25 members
and growing. We own 3 gliders and a Piper Pawnee.

Thanks for your time!

Randy Teel

Tulsa, OK

Randy,

If he hasn't already contacted you offline or by phone, do contact Frank
Whiteley. He's had direct contact with several U.S. clubs that have either
made the switch or done it from the get-go, and can provide hands-on contacts.

Writing with a very broad brush here...

The devil's always in the details, but if your club actually owns (taxed real
estate) property, I've yet to encounter any genuine Cons (though, inertia
tends to carry a lot of weight in lots of clubs).

While the (financial) Pros may be less immediately obvious if your club is NOT
a real-estate-property-owning one, I've yet to encounter any philosophically
based Cons of substance (again, ignoring inertia and 'this is the way we've
always done it' sort of rationales). IMO if your club meets the IRS-determined
rules of the 501(c)(3) game, the requisite club philosophy will also be a good
thing for soaring in the U.S. as well.

Perhaps a good question to ask anyone offering contrary advice is: Why would a
club NOT want to incorporate as a 501(c)(3) organization? Insist on specifics,
not generalities.

Good luck!

Bob W.