Vote New Articles of Incorporation for OACA
OACA board is currently applying for to the IRS for Section 501 (c)(3) nonprofit status which would allow us to be able to issue IRS tax-deductible receipts for donations received from businesses, individuals and other organizations. This would greatly help us to be able to better our Olympia Chinese School and the services we offer to the Olympia-area community as it would give people, businesses and other organizations an added incentive to donate to our association.
In order to make this application to the IRS we have to change (amend) two of our Articles of Incorporation with the State of Washington. We have two amendments for everyone to consider. These changes were prepared by a CPA firm we are contracting with to file our 501 (c)(3) application.
We are asking every member to quickly read the changes (Article II
and Article III
) listed below and click https://www.surveymonkey.com/r/28FDFR2
Vote Deadline: 10:00 PM PST, October 16th (Sunday), 2016
Thank you for your support in this endeavor!
- ARTICLE II is being amended to read as follows:
The term of existence shall be continuous until such time as the members of the corporation (association) decide to dissolve. Upon dissolution of the corporation (association), assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. Any such assets not disposed of shall be disposed of by a Court of Competent Jurisdiction of the County in which the principal office of the Corporation is then located, exclusively for such purposes or to such organizations, as said Court shall determine, which are organized and operated exclusively for such purposes.
Stated more simply: Per IRS guidelines, upon dissolution of the Olympia Area Chinese Association, any remaining funds in the Association accounts and other assets will be donated to a non-profit or religious organization to be used for an “exempt purpose” per Section 501 (c)(3) of the Internal Revenue Code. Remaining assets can also be given to the federal, state or local government for a public purpose (for improvement in local parks or public schools for example).
If any assets are left over they will then finally be disposed of by the Thurston County Courts according to Section 501 (c)(3) of the Internal Revenue Code.
简而言之： 根据IRS的准则，如果OACA解体，任何OACA剩余的资金和财产都将被捐给其它非盈利组织、教会机构、或各级政府（用于公共事业，如公园或公立学校）。如果还有剩余，则将由Thurston County法院裁决。
簡而言之： 根據IRS的準則，如果OACA解體，任何OACA剩餘的資金和財產都將被捐給其它非盈利組織、教會機構、或各級政府（用於公共事業，如公園或公立學校）。如果還有剩餘，則將由Thurston County法院裁決。
- ARTICLE III is being amended to read as follows:
Said organization is organized exclusively for charitable, religious, educational, and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under 501(c) (3) of the Internal Revenue Code, or corresponding section of any future federal tax code.
The specific purpose is to promote the learning of the Chinese language and support the area's Chinese community in preserving Chinese cultural traditions and to promote cultural exchanges between the Chinese community and the local Olympia area communities.
No part of the net earnings of the corporation shall inure to the benefit of, or be distributable to its members, trustees, officers or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of section 501(c)(3) purposes. No substantial part of the activities of the corporation shall be carrying on of propaganda, and the corporation shall not participate in, or intervene in (including the publishing or distribution of statements) any political campaign on behalf of or in opposition to any candidate for public office.
Notwithstanding any other provision of these articles, the corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from Federal income tax under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or (b) by a corporation, contributions to which are deductible under section 170 (c)(2) of the Internal Revenue Code, or the corresponding section of any future federal tax code.
Stated more simply: Per IRS guidelines our association is organized exclusively for charitable, religious, educational, and scientific purposes. Including making financial distributions to other 501 (c)(3) organizations for the purposes listed above. The specific purpose of our association is to promote the learning of the Chinese language and support the area's Chinese community in preserving Chinese cultural traditions and to promote cultural exchanges between the Chinese community and the local Olympia area communities.
No monies will go to any members, officers, trustees or other private persons except the board will authorize it officially as reasonable compensation for services rendered in furthering our associations purposes according to Section 501 (c)(3) guidelines. Also our association will not promote (or oppose), in any way, any political campaign of any candidate for public office.
Finally our association will not do any activities we are not permitted to under Section 501 (c)(3) or Section 170 (c)(2) of the Internal Revenue Code or other applicable future federal tax code.
Board of Olympia Area Chinese Association