I think it is important to remember we are a 501(c)3 under the NTSSA umbrella on their group exemption letter according to the IRS.
||North Texas State Soccer Association Inc.
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North Texas Soccer is a Texas non-profit, 501(c)(3) Tax Exempt Corporation
formed to promote, foster, and advance the cause of soccer for youth and adults within its territory. It shall be the mission of North Texas Soccer to educate, provide administrative service, promote and stimulate interest in the game of soccer. North Texas Soccer is a member of United States Youth and United States Adult, United States Soccer Federation and Federation Internationale de Football Association.
Offering quality soccer programs for youth and adults since 1964
Over 195,000 players currently registered
North Texas Soccer is comprised of over 123 Member Associations that maintain a large volunteer base of coaches and program administrators.
North Texas Soccer, governed by a voluntary Executive Committee, maintains a state office with a professional full-time staff.
North Texas Soccer has one purpose in mind: To ensure that each participant has an enjoyable soccer experience while moving toward his or her personal goal.
Emphasis placed on the development of players - Recreational - Competitive - State Select/ODP
Training programs for coaches and referees
Media: "The Pitch" State Newspaper
Organization assistance through state office staff and Executive Committee
Resource for educational materials
Liability insurance coverage for administrators and Member Associations
Medical insurance coverage program for players and coaches
Sanctioned indoor and outdoor play
Exemption Requirements - 501(c)(3) Organizations
Exemption requirements: 501(c)(3) organizations
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized
exclusively for exempt purposes
set forth in section 501(c)(3), and none of its earnings may inure
to any private shareholder or individual. In addition, it may not be an action organization, i.e.,
it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
Organizations described in section 501(c)(3) are commonly referred to as charitable organizations.
Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions
in accordance with Code section 170.
The organization must not be organized or operated for the benefit of private interests
, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction
with a person having substantial influence over the organization, an excise tax
may be imposed on the person and any organization managers agreeing to the transaction.
……. It also means that directors must supervise and direct the officers and govern the charity’s efforts in carrying out its mission….. courts have held that the law imposes the highest standard of integrity on the bearers of these duties.
irectors of Minnesota (or any)
nonprofit corporations must discharge their duties in good faith, in a manner the director reasonably believes to be in the best interests of the corporation, and with the care an ordinarily prudent person in a like position would exercise under similar circumstances…..
To Exercise the Proper Duty of Care:
1. Active Participation.
A director must actively participate in the management of the organization including attending meetings of the board, evaluating reports, reading minutes, reviewing the performance and compensation of the Executive Director and so on. Persons who do not have the time to participate as required should not agree to be on the board.
Directors may establish committees having the authority of the board and may rely on information, opinions or reports of these committees. Committees operate subject to the direction and control of the board. As a result, directors are still responsible for the committees and should periodically scrutinize their work.
3. Board Actions.
A director who is present at a meeting when an action is approved by the entire board is presumed to have agreed to the action unless the director objects to the meeting because it was not lawfully called or convened and doesn’t participate in the meeting, or unless the director votes against the action
or the director is prohibited from voting on the action because of a conflict of interest.
4. Minutes of Meetings.
Written minutes should be taken at every board meeting. The minutes should accurately reflect board discussions as well as actions taken at meetings.
5. Books and Records.
A director should have general knowledge of the books and records of the organization as well as its general operation. The organization’s articles, bylaws, accounting records, voting agreements and minutes must be made available to members and directors who wish to inspect them for a proper purpose.
6. Accurate Record Keeping.
A director should not only be familiar with the content of the books and records, but should also assure that the organization’s records and accounts are accurate. This may mean the director must take steps to require regular audits by an independent certified public accountant. At the very least, the director should be aware of what the financial records disclose and take appropriate action to make sure there are proper internal controls.
7. Trust Property.
A director has the duty to protect, preserve, invest and manage the corporation’s property and to do so consistent with donor restrictions and legal requirements. Instituting proper internal controls will aid in the protection of assets.
A director must assist the organization in obtaining adequate resources to enable it to further its charitable mission.
9. Charitable Trusts.
A trustee of a charitable trust has a higher standard of care than a director of a nonprofit corporation. A trustee has the duty to exercise the care an ordinary person would employ in dealing with that person’s own property. A trustee with a greater level of skill must use that higher skill in carrying out the trustee’s duties.
A director has a duty to investigate warnings or reports of officer or employee theft or mismanagement. In some situations a director may have to report misconduct to the appropriate authorities, such as the police or the Attorney General. Where appropriate, a director should consult an attorney or other professional for assistance.
Traditionally, directors have an absolute duty of complete, undivided loyalty to the organization.
This means that directors should avoid using their position or the organization’s assets in a way which would result in pecuniary or monetary gain for them or for any member of their family. A director should put the good of the organization first and avoid engaging in transactions with the organization from which the director will benefit…… 4. Outside Help. Where appropriate, directors should obtain opinions of legal counsel or accountants.