The C200 and C200 Foundation boards recommended for member approval, the merger of C200 and the C200 Foundation into one organization – C200 – effective January 1, 2019. The merger was approved by member vote July 20, 2018 and is now subject to approval by the state of Missouri, where our current 501©3 corporation is sitused.
Why the change?
To better serve members and our vision of Success Shared.
Our proposed joint purpose as a 501 (c) 3 membership association, with an educational & charitable mission, would be “to educate, inspire, support and advance women entrepreneurs and corporate leaders.”
What will NOT change?
C200 will continue to be…
- A non-profit membership association with member programs supported by member dues* and a nonprofit charitable organization–with an educational and charitable mission–that includes the current Foundation advancing women programs (supported by donations)
- Focused on our Strategic Plan initiatives and programs of peer community, advancing members, and advancing all women leaders in business
- An organization with a member-elected Board of Directors and with regional member leadership & representation. Nine current Board members whose terms go past Dec. 31, 2018 (approx. 50% from each Board and approx. 50% entrepreneurs and 50% corporate) will serve on the new Board effective Jan. 1, 2019. In addition, members will elect at least four new Directors, and our 2019 officers, in late August according to the current C200 bylaws & process
- A vehicle for sponsors & donors to support our mission
What WOULD change?
- Our non-profit corporate structure(s) effective January 1, 2019
- Operational efficiency** – redeploying resources to better serve members and our broader mission
With questions or comments contact any board member or officer.
*Businesses and self-employed individuals may be able to deduct membership dues as an ordinary business expense. If you pay dues personally you will be able to deduct membership dues as a charitable contribution. However, you can only take a charitable contribution deduction to the extent the amount of the dues is more than the value of the benefits you receive. C200 estimates that $75 of each member’s annual dues will not be deductible as a charitable contribution. Your company may also be able to deduct dues as a charitable contribution, subject to certain limitations. If an S Corps, the corporation can deduct the dues as a business expense (and therefore reduce the taxable income passed through to shareholders) if the corporation concludes that there is an identifiable direct business benefit from payment of the dues. The corporation could alternatively deduct dues as a charitable contribution (passed through to the owners of the S-Corp, just as in a partnership), subject to same reduction for the cost of the holiday party applicable to charitable deductions by individuals. All members should consult with their tax advisors for a final determination.
**Estimated direct savings of $50,000 in 2019 by eliminating duplicate expenses such as two audits, two tax returns, etc. Indirect, staff time savings would also result.