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 Post Posted: Mon Jun 08, 2020 9:48 am 
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Joined: Mon Apr 10, 2017 12:13 pm
Posts: 33
Hey all,

As background, the BoD has been looking to bring EH into a 501c7 structure from an S Corp, and through substantial research we have determined that some structural changes need to happen prior to the board processing the corporate change. This Althing proposal is part of that, please feel free to ask questions or suggest any changes that are needed and I will happily clarify/discuss.

The sooner we can get these updates in action the sooner we can begin the corporate transition. Thank you!

Proposal:
Subgroup treasuries need to follow strict guidelines for documentation and reporting, which will necessitate oversight by the Kingdom, likely the Treasurer. Expenses charged outside of IRS requirements will risk loss of exempt status. Clear fundraising limitations/structure will also need to be followed.
Within Kingdom Corpora:
o Replace Section V(B)(1)(2): “Subgroup Treasuries
1. Subgroup Treasuries are Emerald Hills
funds managed by Subgroups made up of
dues paid by Subgroup residents or
proceeds generated by Subgroup Functions
2. Subgroups may choose to not maintain a
Treasury, and allow the Emerald Hills to
maintain it in their stead
o With: “Subgroup Treasuries
1. Subgroup Treasuries are Emerald Hills
Funds managed by the Kingdom/ Kingdom
Treasurer and the monarchy of the subgroup
made up of dues paid by Subgroup
residents, proceeds generated by Subgroup
functions, or other funding generation
methods outlined in the Treasury Policy.
2. Subgroups may choose not to be involved
with the maintenance of their treasury, and
allow the Emerald Hills to maintain all funds
and records alone.

Within Subgroup Corpora:
Replace:
"IV (A) Subgroup Treasuries are Emerald Hills funds managed by Subgroups, made up of dues paid by current residents or proceeds generated by Subgroup Functions.
1. Subgroups may choose to not maintain a Treasury, and allow the Emerald Hills to maintain it in their stead. In this case any dues or proceeds shall be turned over to the Emerald Hills by the next Kingdom Event.
2. Subgroups that choose to maintain their own treasury must follow the Emerald Hills Treasury Policy, including submitting audits to the Emerald Hills Treasurer"
With:
"IV (A) Subgroup Treasuries are Emerald Hills funds managed by the Kingdom Treasurer and the Subgroups, made up of dues paid by current residents or proceeds generated by Subgroup Functions.
1. Subgroups may choose to not maintain a Treasury, and allow the Emerald Hills to maintain it in their stead. In this case any dues or proceeds shall be turned over to the Emerald Hills by the next Kingdom Event.
2. All subgroups must follow the Emerald Hills Treasury Policy, including submitting audits to the Emerald Hills Treasurer

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