Modular rockeTs Building Baffles - National Association of Rocketry

More documents

Recommendations

Info

So You WantIncorporate Your Club?by Rick Boyette NAR 31375For the “non-business-minded” folks,the idea of incorporating a club can seemintimidating. It all sounds so Pompous andOfficial, totally opposed to what a hobbyclub is all about. But it’s really a simple,straightforward process that just about anysanctioned club can easily follow.Typically it costs about $100 to $200to incorporate, and annual fees are in the$50 to $100 range. Some states may havehigher fees, so you really have to look intoyour own state’s particular filing fees.Our club (Florida Spacemodeling Association/TripoliWest Palm, Inc.) incorporatedmainly as a way to insulate individualmembers from personal liability (insurancenotwithstanding, one can never be too safethese days). Each state will have certainprocedures to follow so it’s best to contacta legal/accounting firm that specializes inincorporation. Such firms offer a completeHHHHHHHHHHHHHHHHHHHHHHHH CUSTOM, ESTES, HHHHFLISKITS,HHQUASAR ONE,HHHH and QUEST HH • Rockets • Engines • Bulk Packs HH • Accessories • Parts HHatHHHH 40% OFF HHHSuggested Retail PriceHHHSend for yourHHfree catalog or visit us at:HHBelleville Wholesale Hobby Inc.HH1944 Llewellyn RoadHHBelleville, IL 62223-7904Hwww.bellevillehobby.comHHwww.estesrocketswholesale.comHHCall Toll Free: 1-866-250-5949HHor 1-618-398-3972HHHHHHHHHHHHHHHHHHHHH26 MAY/JUNE 2010 Sport Rocketrypackage that includes the corporate bylaws,seals, articles of incorporation, etc.,that’s pretty much boilerplate stuff, usuallyfor a flat fee.To locate a company in your state, doa web search for “(State Name) Non-ProfitIncorporation” and you should get a list offirms that specialize in this type of incorporationfor your state.Each state will typically have an annualtax and/or fees and paperwork that mustbe submitted on a yearly basis. This is usuallyvery straightforward. The package youreceive from the accountant/lawyer will includethe required paperwork for the initialsubmittal. For subsequent years, thestate sends the paperwork to the corporateofficer listed in the incorporation documents.There are different types of corporations,including S corporations and LLC’s.It’s really a simple,straightforwardprocess that justabout anysanctioned clubcan easily follow.The company chosen to perform the incorporationwill advise as to which type ofcorporation best fits the club’s needs.A virtual necessity is opening a corporatechecking account. An option with thisis a corporate credit card, and also the abilityto accept credit card transactions. Mostbanks will allow you to open such an ac-
count for a minimal expense if you alreadyhave a personal account there. Monthlyfees can add up, so I recommend shoppingaround for the best account that suityour club’s own needs. For example, if theclub writes only a few checks per month,it’s usually cheaper to have an account thatdoesn’t charge a monthly fee but insteadcharges a per-check fee (usually over a certainnumber of checks).The tax ramifications are minor. There’sa corporate tax return that must be doneeach year, but usually it’s a simple form.For a non-profit club with no employees,it usually all zeroes out and little if any taxmust be paid. The company chosen to dothe incorporation should provide guidancefor completing state and federal taxreturns. The feds will issue a corporate taxID number which, under certain circumstances,can be used to purchase certainitems that are exempted from sales tax.The advantages of incorporation includepersonal liability protection, tax exemptions,financial considerations (e.g.having a corporate checking account andcredit card), and professional appearance(it makes the club “official” with letterhead,logos, etc.) for marketing and advertisingfunctions. It also helps accounting,since club expenses are easily kept separatefrom personal expenses. Also, “ownership”is easily transferred in the event an officerleaves.The disadvantages include the initialand annual expenses (the club needs tobe financially solvent) and finding at leasttwo responsible adults who are willing toserve as corporate officers. The club needsto have a steady, dependable core membership,with all the duties that entails. Usuallyit’s just a matter of filling out the stateand federal forms and keeping the books,so the club treasurer should be one of thecorporate officers as well as one of the authorizedaccount holders. The club mayneed to assess their dues structure so as tobe able to cover all the initial and ongoingexpenses.Clubs considering incorporatingshould first contact an appropriate firm. Ido not recommend doing it on your ownunless someone in the club is, or does personalbusiness with, a certified accountant.There’s plenty of information on the Webabout incorporation (http://www.amerilawyer.com/was very useful for me).Sport Rocketry MAY/JUNE 2010 27
Page 1: MAY/JUNE 2010The studentlaunch inia
Page 4 and 5: EDITOR’SDeath of the DreamWhen I
Page 6: Far Right: Crayon bankswere distrib
Page 10 and 11: BUILD & FLY YOUR OWNMODEL ROCKETS!O
Page 12 and 13: a full-sized rocket in RockSim (an
Page 14 and 15: The Big PictureAdelaide, who was on
Page 16 and 17: Product ReviewQuest AerospaceMLASby
Page 18 and 19: using Elmer’s for years to seal b
Page 20 and 21: ocketIn 2007 I built a modular rock
Page 22 and 23: Figure 2.specific flight missions.
Page 24 and 25: Figure 6.agent. I used Aervoe Crown
Page 28 and 29: y Kenneth B. JaroschNAR 56442, TRA
Page 30 and 31: Photo 1. The basic parts for themid
Page 32 and 33: Above: Photo 6. Dry-fit test. The o
Page 34 and 35: Medi/Maxi-Magg Concentric 3-Chamber
Page 36 and 37: The Cato ChroniclesThe Great TARCMi
Page 38 and 39: FAI Sporting Code, Section 4, Volum
Page 40 and 41: My First Capitol Cupby Caleb Boe NA
Page 42 and 43: A Message from theNAR Presidentby T
Page 44 and 45: Rocket News & New ProductsFlisKitsF
Page 46: SR Marketplaceto find a rocketlaunc

Modular rockeTs Building Baffles - National Association of Rocketry

Create successful ePaper yourself

Delete template?

Save as template?