NOTICE OF PROPOSED AMENDMENT TO CONSTITUTION
According to the IRS, an amendment to our Constitution is necessary. If adopted, the article below will be inserted into the Constitution as Article V, and the existing Articles V and VI will be renumbered as Articles VI and VII. We will vote on the proposed amendment at the June meeting.
ARTICLE V – ORGANIZATION
- The fiscal year of the Tin Pedlar Chapter shall begin on January first and end on December thirty-first of each year.
- The Chapter is organized for educational purposes including the making of distributions to organizations qualifying as tax exempt pursuant to the provisions of Internal Revenue Code (IRC), Section 501(c)(3), or the analogous or corresponding section of any amended or future federal tax code.
- No part of the net revenue of the Chapter shall inure to the benefit of, or be distributed to its members, trustees, officers, or other private persons, except that the Chapter shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set in Article II of this Constitution. No substantial part of the activities of the Chapter may constitute propaganda, or otherwise constitute any attempt to influence legislation (lobbying and/or political action). The Chapter shall not participate or intervene in any fashion, including the publication or distribution of statements, in any political campaign on behalf of any political party, political position or candidate for public office. Any provision of this Constitution to the contrary notwithstanding, the Chapter shall not engage in any activity prohibited by the provisions of IRC, Sec. 501(c)(3) for an organization tax exempt pursuant to the provisions thereof, or prohibited by an organization to which contributions are tax exempt pursuant to the provisions of IRC, Sec. 172(c)(2), or the analogous or corresponding section of any amended or future federal tax code.
- Upon the dissolution of the Chapter, its assets shall be distributed only to organizations qualifying as tax exempt pursuant to IRC, Sec. 501(c)(3) or the analogous or corresponding section of any amended or future federal tax code, or distributed for a public purpose or purposes to the government of the United States of America, or to a state or local government.