FundSvcs Community

It is my understand (and I am NOT a lawyer NOR a CPA) that your changes in administration do not require any change in your exempt status. Those changes are simply reflected on your 990 each year - and perhaps those various State registration applications you must file annually to solicit. I'd have your NYC staff contact a US attorney for guidance. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Mon, Jan 21, 2019 at 3:51 PM Diane Robinson <Diane.Robinson@dal.ca> wrote: > Good afternoon, > > > > We currently have a US Foundation in New York with 501.c3 status that is > administered by a board of volunteers. We are looking into moving the > administration to a professional organization (accounting or law firm). My > question is can we update our current account with the IRS to reflect the > new administrators or would our existing status need to be closed and > re-apply for new status. > > > > > > *Diane Robinson* > > *Manager, Gift Administration* > > *Office of Advancement* > > *Dalhousie University* > > *6389 Coburg Rd, 4th Fl* > > *Halifax NS B3H 4R2* > > > > *902-494-6858* > > Diane.robinson@dal.ca > > >

Good afternoon, We currently have a US Foundation in New York with 501.c3 status that is administered by a board of volunteers. We are looking into moving the administration to a professional organization (accounting or law firm). My question is can we update our current account with the IRS to reflect the new administrators or would our existing status need to be closed and re-apply for new status. Diane Robinson Manager, Gift Administration Office of Advancement Dalhousie University 6389 Coburg Rd, 4th Fl Halifax NS B3H 4R2 902-494-6858 Diane.robinson@dal.ca<mailto:Diane.robinson@dal.ca>

Diane: I agree with John, and would only add that any CPA firm or attorney your foundation or institution would retain for this purpose should be knowledgeable about how to structure governance and report compliance with applicable regulations to the IRS and appropriate state regulators. [S&W_clr-small] Michael L. Wyland Sumption & Wyland 818 South Hawthorne Avenue Sioux Falls, South Dakota 57104-4537 (605) 336-0244 or (888) 4-SUMPTION Web site: http://www.sumptionandwyland.com LinkedIn Profile: http://www.linkedin.com/in/michaelwyland "I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800

I am in New York and I agree with John: just change the names in your next 990. Marianne Sent from my iPhone On Jan 21, 2019, at 3:51 PM, Diane Robinson <Diane.Robinson@dal.ca<mailto:Diane.Robinson@dal.ca>> wrote: Good afternoon, We currently have a US Foundation in New York with 501.c3 status that is administered by a board of volunteers. We are looking into moving the administration to a professional organization (accounting or law firm). My question is can we update our current account with the IRS to reflect the new administrators or would our existing status need to be closed and re-apply for new status. Diane Robinson Manager, Gift Administration Office of Advancement Dalhousie University 6389 Coburg Rd, 4th Fl Halifax NS B3H 4R2 902-494-6858 Diane.robinson@dal.ca<mailto:Diane.robinson@dal.ca>