The Club is in the process of converting to a tax-exempt 501(c)(3) entity. As a tax-exempt, sponsors will be able to deduct contributions to the Club as charitable deductions. This should enhance our ability to obtain more corporate sponsors.
To affect this change, the state of California requires that we amend our Articles of Incorporation with the following changes:
- Expressly state that we will not engage in any activity that is not permitted under IRS rules pertaining to 501(c)(3) entities,
- Upon dissolution of the Club, all assets will be distributed only to another tax-exempt entity, and
- Both the Board and the Members have approved these changes.
The restated Articles of Incorporation that we propose to adopt can be viewed by clicking the following link - Restated Articles of Incorporation.
Voting by secret ballot will be Saturday, September 12, before the Saturday ride at UC Cyclery. SDBC Secretary Adina Cowell, and SDBC Membership Director Marilyn Detloff will oversee the balloting. There will be NO balloting via email.
San Diego Bicycle Club