Chapter Resource: Legal & Tax Documents
This could be titled “risk management” for that is what this is all about … managing your risk so you do not fall in trouble with the IRS, federal government or your state government.
- Chapters which are not integrated with a parent organization need the basic corporate documents:
- Articles of Incorporation
- Annual Corporate Report
- Tax Exempt Status
- Employer Identification Number
Plus, organizations must comply with annual electroic filing of tax returns and your state.
This list is intended as a starting point. Visit the IRS web site to walk through the process of starting up a non‐profit organization.
INSURANCE POLICIES FOR ASSOCIATIONS
Chapters – and all associations – should protect themselves by carrying insurance to cover professional liability, crime, property, and disasters. For small chapters with occasional events, the need is smaller. For an insurance checklist and more information on association‐specific insurance options, contact ASAE-The Center for Association Leadership or consult a risk management professional like Croydon Consulting who offers resources
Here are the basic policies to consider:
- Association professional liability insurance
- Event cancellation insurance (if you have a large show or event)
- Property coverage
- General or third-party liability
Download the white paper for more information.
Note: this is intended for information only and should be misconstrued
as legal or financial advice. Do check with your national association
and/or your own CPA for specific advice.