We are solicting nominations for the Offices of the SRI Alumni Association President, Secretary, and Treasurer. Please send your nominations by September 4 to:
The SRI Alumni Association has existed informally for many years. Originally, it was a part of SRI. A few years ago SRI requested some separation, which has left us without real status. In order to accept online payments, we need to have status as a legal entitity with officers responsible for payments who are protected legally through incorporation.
We are pursueing incorporation as a member-benefit nonprofit (501(c)7). Doing so offers many benefits, including the ability to use services that help nonprofits receive electronic dues payments, track dues status, and manage membership data and correspondence. The costs are not unreasonable in terms of money, likely less than $1500 for initial federal and state filings and about $20/year for state filing fees. The costs in time are more significant as we discuss and agree on details, fill out forms, and create the necessary documents. So please forgive us if some balls are dropped while our team is coming up to speed. Also, please feel free to volunteer to help!
Incorporating will shield individuals from any liabilities of the Association, give us increased credibility, create a formal and more transparent legal structure, and allow us greater independence.
A 501(c)7 organization has many of the benefits of a 501(c)3, most notably tax exemption from federal income taxes. It is different in that it must benefit its members (as opposed to the public or specific other groups) and in that dues or other donations are not tax deductible. Going forward, we would be required to receive at least 65% of our funding from payments from members (dues, donations). Founding documents (Articles of Incorporation, Bylaws and Rules of Order) are available for your review. Please feel free to comment! The state requires we have at least three officers (President, Secretary and Treasurer) elected by the full membership. We plan to do this annually in time to announce results at the yearly Reunion. Once we are incorporated, we can apply for tax-exempt status with the state and with the Internal Revenue Service.
We believe that, going forward, these changes will make it easier for the general membership and for the Steering Committee, and we ask for your support of our plans.
Please let us know if you have questions, concerns or suggestions! Send any questions, comments, and/or nominations to: steering@srialumni.org