Enough, let's see the books!

Discussion in 'General' started by CRRC93, May 13, 2018.

  1. Racer997

    Racer997 Old Skool Racer

    Yes, founded in 1974 by Lou Linden. He was before my time, but I've met him a time or two.
    VFR#52 likes this.
  2. RossK6

    RossK6 Grid Filler

    What year? My ‘88 Katana is sitting in the garage in mostly one piece and may even start with a fresh battery.
  3. panthercity

    panthercity Thread Killa

    One of the good ones, without a doubt. He and Susan Prentice held CRRC together with spit and bailing wire the first couple of years,
    Sabre699 and VFR#52 like this.
  4. Dave K

    Dave K DaveK über alles!

    88 or 89. An ex race bike that I got for free. It has a Yosh or V&H exhaust that is more rust and dents than steel and aluminum. Airtech bodywork I think.

    I'll ask if it's up in my brother's basement next time I talk to him.
  5. Yzasserina

    Yzasserina sound it out

    Maybe CMRA is not owned by anyone, but some non-profits are. Are you sure?
  6. jpence

    jpence Well-Known Member

    Yes. By nature 501c3's are not "owned" by anyone.

    edit: no 501c3 is owned by anyone. there is no exception
  7. G 97

    G 97 What's my name

    Yes in theory. The reality is, there are 501c3 organizations, that although may not be specifically “owned” by any one individual, they are wholly controlled by an individual, so in the end it really doesn’t matter much. I know first hand of a once pretty big coast to coast track day org that fit this scenario 100%.

    Sounds like this is what happened with CMRA to an extent where a few long time serving BOD members have, in all reality, gained 100% control of the club outside of its original intended membership owned mission.
    Last edited: May 22, 2018
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  8. Yzasserina

    Yzasserina sound it out

    I've been the CFO for one for 22 years. Someones do in fact own and control it.
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  9. Racer997

    Racer997 Old Skool Racer

    Jordan -

    You may be right about 501(c)(3) organizations...but we are not talking about a 501(c)(3) organization.

    The CMRA is a 501(c)(7) organization. Should a 501(c)(7) organization ever go defunct, its assets are distributed to its members on dissolution after any outstanding debts are paid.
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  10. jpence

    jpence Well-Known Member

    Not in theory. In reality. This is pretty clear. Specifically in the CMRA's case. It is not possible for a non-profit to be member owned.

    No they do not "own" the non profits. The BOD makes decisions and are responsible but they do not own the non profits.
  11. Yzasserina

    Yzasserina sound it out

    OK hon you win!
  12. G 97

    G 97 What's my name

    So a non profit can neither be solely owned by an individual(s) nor member owned. :confused:

    Define ownership however you want but non profits are in fact owned by individuals or groups of.

    What’s is your experience with being involved as an internal board member/director with a non profit?
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  13. G 97

    G 97 What's my name

    Between Jpence and A. Dye. I see a distinct pattern evolving. LOL.
    Dung level.
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  14. jpence

    jpence Well-Known Member

    You are right, I was mistaken on the formation. The fact remains it is not "owned" by the members. The second part is correct also , if the 501c7 is dissolved.
  15. G 97

    G 97 What's my name

    I can confirm first hand that one of the largest trackday orgs which was also a non profit was solely owned by one individual. So you can talk theory all you want. Reality may be different.
  16. VFR#52

    VFR#52 Well-Known Member

    So the question i want to ask is do the members have the right to see the books?

  17. jfcasley

    jfcasley Well-Known Member

    I think that TMGP is a non-profit and they give away any excess cash at the end of the year as "the horse choking wad". That is just my guess.
  18. joec

    joec brace yourself

    I guess I really don't get it.

    Why would you stick around and not move on? If you're not happy with the service provided, go somewhere else. If that's all that's being offered, find another hobby. Build model airplanes, take up pen turning or collect bottle caps. But for your own good save yourself the mental anguish and the public embaressment of all of it. It's just a damned hobby.

    At some point partners always know when to cut bait. You've got to willingly open your pockets for them to "steal" from you. You've got nothing invested in the club as an "owner". The smart thing to do would be to walk.

    Seriously though bitching, lawsuits, and mud slinging is a pointless non productive waste of yalls time. (Though great entertainment.)

    As for the gate fee. Really? 5 bucks? Really? Lol....maybe they should have just calmly explained that they own the club. I'm sure that would have cleared everything up. Haha.

    I don't know how you guys can all grid up together and exist in the same paddock for the weekend. Jesus Christ there's always someone there to take the fun out of everything.

    Pay your membership. Pay your race entries.. Don't worry about the 5 bucks. And go enjoy your weekend. If it gets heavier than that, why bother?

    Carry on.
    R1Racer99 likes this.
  19. Yzasserina

    Yzasserina sound it out

    Because he thinks they are stealing from the very people for whose benefit they exist (in this capacity).
    busa99, G 97, Scotty87 and 2 others like this.
  20. In Your Corner

    In Your Corner It's a little-known fact...

    Has the IRS ever expressed an interest in the legitimacy of it being a non-profit?

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