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OGF legal question

Discussion in 'The Lounge' started by exexec, Sep 14, 2004.

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  1. Could one of the owners please tell me the legal and tax status of OGF?
     
  2. ShakeDown

    ShakeDown OGF Staff Staff Member Admin

    depends on why you want to know :D


    LLC.
     

  3. Corey

    Corey OGF Team-Charter Member

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    Hi Ex! While I don't think any organization or company should have to divulge its financial details to anyone other than the powers-that-be, I do think we need to make available, to those members with questions, information showing our members that we have taken the time and effort to be sure that we are a legitimate, legally, ethically, and fiscally responsible operation. Whadda ya think Shake?
     
  4. captnroger

    captnroger OGF Webmaster

    As it states at the bottom of our homepage, we are a LLC.
     
  5. ShakeDown

    ShakeDown OGF Staff Staff Member Admin

    I agree Coretta :D

    and as Roger has stated, we are a legal, taxpaying LLC :D
     
  6. Corey

    Corey OGF Team-Charter Member

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    I'm impressed by us!! I want our autograph!
     
  7. I guess I am curious as to why me as a OGF member needs to know this. I could see if we have invested interest in the operation or are paying a dues fee. So I guess you have answered the question well enough for me.:D
     
  8. :D ....... ;) ........... :D ............If theres enough money could you guys buy my deer tag for me.............LOL............Just Kidding............Rich
     
  9. Exexec probably wanted to know if you're a 501(c)3 or 501(c)4 because he wanted to donate $1,000,000 to the site and write it off his taxes :eek: :eek:, but he'll just have to find some other charity or non-profit/not for profit orginization to donate to....it really sucks having so much money that you don't know what to do with it and trying to find someone to give it to.
     
  10. Ray_IL

    Ray_IL Banned

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    The LLC form is different for different states, with some real advantages in some states that aren't relevant in others. An LLC is usually a lot like an S corporation, a combination of some limitatiuon on legal liability and some favorable tax treatment for profits and transfer of assets. This is a newer form of legal entity, and often harder to establish than a corporation. Why would you establish an LLC instead of a corporation? That's a tough legal question, not one we can answer here. In general, the LLC has to be missing two of the four characteristics of a corporation (limited liability, centralized management, continuity of life, and free transferability of ownership interest). Still, with the advisability and advantages varying from state to state, here again, this is a question to take to a good local attorney with small business experience.


    -I kinda think that maybe Exexec was a-chewin' it over upstairs about member donations n' accountability of the LL Corporation est by ogf :)

    later Gators...
     
  11. If there's any question as to where the donations made by members to OGF goes, I'll be more than happy to tell you. I can also tell you where they don't go. And, I'm sure all the administrators will tell you too.

    Also, speaking for myself, I have not received ONE RED CENT from any donations made to this website, none from merchandise sales, NOTHING, but have invested lots of my time and professional expertise here, at no charge, I might add. And I'm happy to do it.

    So, I too would like to know why there's such a need to know what the legal and tax status of the website is. C'mon John, what gives???
     
  12. Lewis

    Lewis ORIGINAL TEAM OGF

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    I might add that our purpose here is not profit driven.
    We are just a handful of guys that love fishing,and derive great satisfaction,from seeing a website ran the right way.
    As an owner I too,have not recieved one red cent from OGF.
    We do need operating capital to cover costs, grow the site, prize giveaways,provide food and such for outings etc.
    I love the way we have OGF setup with multiple owners,all with an equal share.
    It prevents things from happening that happened at some other websites.
    We are all working very hard to get it right and keep it that way!
     
  13. And your doing a great job Lewis and to the rest of the gang...........Rich
     
  14. catking

    catking Banned

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    All the money goes to line this fat cat's pockets :cool: .......DA KING !!!
     
  15. The thing I can't figure out (and I'm not suggesting this is the reasoning for Exexec's inquiry) is why profit is such a dirty word around here....C'mon guy (ALL OF YOU)...if the managers of this site can market and promote the site to a point in which it becomes a multi-million dollar business AND keep it a FREE site, what the hell difference whould it make? People make donations to FOR profit orginizations ALL THE TIME!!!! i.e. Colleges, Hostitals etc. etc.

    Bysides, someday the site can grow to be so profitable that every member could get a free boat :D ;) :eek:
     
  16. Rick you are going to sare with me-right ;)
     
  17. You all should be proud of what you have accomplished here. All the LLC filing info is online at the Secretary of State Blackwell's website- so no big secret, Carl. I think it is nice that the powers that be here are open. I agree that, "No private business should be required to open their books" (previous reply) to anyone, but that is a far cry from the filing status of an entity.
     
  18. I asked because of potential donation issues and if there are any liability issues with outings etc. As I asked in my first post I DID NOT ask for details. If you don't understand why I asked I cannot take the time to explain it, but I personally think it is important for members as well persons who take part in the outing to know those two things.
     
  19. this is a great site. the question was not unreasonable.
     
  20. Your original post was not real clear John. Here it is.

    **********************************************************
    OGF legal question

    --------------------------------------------------------------------------------

    Could one of the owners please tell me the legal and tax status of OGF?

    **********************************************************
    There's nothing in there concerning donations, etc., at all.

    Maybe you could PM captroger and he can answer any detailed questions on legal issues you may have.
     
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