By D. Dwight Worden
Getting together to pick? Looking to book bands? Interested in formalizing your bluegrass group? This paper gives an overview of the types of organizations that might best be formed to meet your needs, identifies key points and issues to address, and sets out some practical tips touching on the pro’s and con’s of incorporation, non-profit status and other important topics. This paper also provides references and resources that can be used to carry out the formation or reorganization process for your bluegrass association.
INTRODUCTION
There are three main types of organizations to consider: (1) the unincorporated association, (2) a for-profit corporation, and (3) a non-profit corporation. Because certain paper work and other requirements are common to all three types of organizations, we will go over those first. Then we will take a look at each of the three forms of organization individually, focusing on the non-profit corporation and briefly touching on unincorporated associations and for-profit corporations.
(1) Adopt a Mission Statement. Set out on paper what the mission and goals for your organization are. This will help your new association stay on track and will help prospective members and donors determine if they want to join or otherwise support your group. You need to have a good mission statement to ensure your members are all on the same page with regard to what the association is and what it will do. Also, a mission statement is important in applying for grants and in applying for non-profit status. Continued here...
Getting together to pick? Looking to book bands? Interested in formalizing your bluegrass group? This paper gives an overview of the types of organizations that might best be formed to meet your needs, identifies key points and issues to address, and sets out some practical tips touching on the pro’s and con’s of incorporation, non-profit status and other important topics. This paper also provides references and resources that can be used to carry out the formation or reorganization process for your bluegrass association.
INTRODUCTION
There are three main types of organizations to consider: (1) the unincorporated association, (2) a for-profit corporation, and (3) a non-profit corporation. Because certain paper work and other requirements are common to all three types of organizations, we will go over those first. Then we will take a look at each of the three forms of organization individually, focusing on the non-profit corporation and briefly touching on unincorporated associations and for-profit corporations.
(1) Adopt a Mission Statement. Set out on paper what the mission and goals for your organization are. This will help your new association stay on track and will help prospective members and donors determine if they want to join or otherwise support your group. You need to have a good mission statement to ensure your members are all on the same page with regard to what the association is and what it will do. Also, a mission statement is important in applying for grants and in applying for non-profit status. Continued here...
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