Theme Camp Incorporation: Who has advice / experience?

kitten_sf · Post by **kitten_sf** » Thu Oct 15, 2009 7:50 pm

My theme camp has grown quite a bit over the years, and we're looking into various Incorporation options as we now have a bank account for fundraiser proceeds & other assets (camp supplies etc) to manage year-round.

We want to learn from other theme camps that have already gone down that road. Did you choose to go 501(c)3 or LLC? Whatever you chose, how has it gone for your camp?

Where are good places to go for more information?

What are obvious/potential mistakes to avoid?

(Happy to have off-line conversations if you don't want to post a lot of internal stuff on eplaya... feel free to msg me privately or post here, whatever works for you)

I am very grateful for any time people spend sharing info on this...

THANK YOU!
Kitten Calfee

Post by **Elderberry** » Thu Oct 15, 2009 8:00 pm

Interesting. Somehow I just never thought any theme camp would ever have incorporated. Go figure.

JK

Post by **mdmf007** » Thu Oct 15, 2009 8:06 pm

LLC is definately easier, and has some liabilty shielding in place. Straight corporations are a bit more intensive in paperwork and more dough to set up.

For a theme camp I imagine an LLC would be a great route to go, you can do it online as well in an hour or two. You also have the advantage of changing managers / owners at will with an amendment field with state whenever you have elections for positions if you go that route. at a minimum youll need, Pres, Secretary, Manager and Registered agent. Only the Secretary and Pres cant be the same person.

You may need an in state registered agent depending ont he state - there are tons of services out there to do this for you, shouldnt cost more than 50 bucks a year for a registered agent service..

pm if you have any other questions, i have 2 LLC's in Nevada, 2 IN WA.

Either way - file your reports timely, even if there is nothing to file - file "0" reports or you pay fees to reinstate and penalties for late filing.

PM me for specific questions

kitten_sf · Post by **kitten_sf** » Thu Oct 15, 2009 8:29 pm

We're really tempted by the LLC option... but have run into some things that have given us pause... like CA makes LLCs pay $800/yr minimum in taxes? (link)

Not sure if forming an LLC in Nevada is a better deal or not (link)

Do all of these things apply to LLCs that are operate for 'public benefit' as opposed to generating profit? Where is a good place to find more info about that?

Risky · Post by **Risky** » Thu Oct 15, 2009 10:34 pm

Nevada is the toughest State to "pierce the corporate veil". It's only been proved to be pierced once in the last 20 years.
Nevada does not share info with the IRS.
Nevada has no State tax based on income.
Nevada does not require more than one person to form or run a Corp.
Nevada does not require above person to be a resident of Nevada.
Nevada allows that one person to be Pres, Sec, Treas and Director of said Corp.
Nevada does not require a business to be formed to have a Corp, and can be for the purpose of holding and managing assets.

magicmarty · Post by **magicmarty** » Thu Oct 15, 2009 11:18 pm

Good info, Risky. Thanks

And oh yes, the SF Decomp was fun, but it not the same as bein on the Playa. Really don't get to settle in.

Hey, Ygmir, you shoulda come to SF on Sunday

ygmir · Post by **ygmir** » Fri Oct 16, 2009 4:41 am

Hi Marty,
I wish I coulda been in two places at once........but, the Sac was close, and, a ton o fun...........

magicmarty · Post by **magicmarty** » Fri Oct 16, 2009 5:00 am

Got it! With one ass, you can't dance at two weddings!

Although it might just be worth a try!

ygmir · Post by **ygmir** » Fri Oct 16, 2009 5:02 am

magicmarty wrote:Got it! With one ass, you can't dance at two weddings!

Although it might just be worth a try!

I'd take Da Mule anywhere..........and dance proudly........

Simon of the Playa · Post by **Simon of the Playa** » Fri Oct 16, 2009 6:35 am

Risky wrote:Nevada is the toughest State to "pierce the corporate veil". It's only been proved to be pierced once in the last 20 years.
Nevada does not share info with the IRS.
Nevada has no State tax based on income.
Nevada does not require more than one person to form or run a Corp.
Nevada does not require above person to be a resident of Nevada.
Nevada allows that one person to be Pres, Sec, Treas and Director of said Corp.
Nevada does not require a business to be formed to have a Corp, and can be for the purpose of holding and managing assets.

and as soon as they legalize IT i am SO moving there....

zero tolerance is complete shakedown bullshit though.

littleflower · Post by **littleflower** » Fri Oct 16, 2009 8:50 am

LLCs incorporated outside california, with no activity in california, do not have to pay the $800 fee.

Ugly Dougly · Post by **Ugly Dougly** » Fri Oct 16, 2009 9:52 am

My opinion: Once it gets to such a size as to require incorporation, it's too large for me. Incorporation is done, IMHO, to protect strangers from strangers. If they are not as family, then they're not part of my camp. Simple.

Deb Prothero · Post by **Deb Prothero** » Fri Oct 16, 2009 1:55 pm

Good information Risky.

One more question.

Does the person need to be a US citizen to have a Nevada LLC?

LostinReno · Post by **LostinReno** » Fri Oct 16, 2009 4:07 pm

Deb Prothero wrote:Good information Risky.

One more question.

Does the person need to be a US citizen to have a Nevada LLC?

I don't think so, Mr. Lost is a canukian citizen, we had a trucking buisiness that was LLC for a while. However he does have a green card. Hrmmmm, might be a grey area there.

Post by **Elderberry** » Fri Oct 16, 2009 5:16 pm

Simon of the Playa wrote:
Risky wrote:Nevada is the toughest State to "pierce the corporate veil". It's only been proved to be pierced once in the last 20 years.
Nevada does not share info with the IRS.
Nevada has no State tax based on income.
Nevada does not require more than one person to form or run a Corp.
Nevada does not require above person to be a resident of Nevada.
Nevada allows that one person to be Pres, Sec, Treas and Director of said Corp.
Nevada does not require a business to be formed to have a Corp, and can be for the purpose of holding and managing assets.

and as soon as they legalize IT i am SO moving there....

zero tolerance is complete shakedown bullshit though.

It has been "decriminalized" accordning to NORMAL and also Medical use is recognized there too http://norml.org/index.cfm?wtm_view=&Group_ID=4550

JK

Post by **mdmf007** » Fri Oct 16, 2009 9:11 pm

Ugly Dougly wrote:My opinion: Once it gets to such a size as to require incorporation, it's too large for me. Incorporation is done, IMHO, to protect strangers from strangers. If they are not as family, then they're not part of my camp. Simple.

Ugly - what about strangers coming to your camp and getting hurt or killed? Thats what camps are about at BM. Even if someone is unwanted in your camp, warned and told about hazards - they can still sue.

Did Katharine Lampman plan on getting killed by an art car - no. But her family certainly saw fit to sue the camp, art car owner and others.

For the camp organizers any protection from suit should be welcome.

Post by **Elderberry** » Fri Oct 16, 2009 9:20 pm

So I would be curious to know...which camps are actually legal entities?

JK

Deb Prothero · Post by **Deb Prothero** » Fri Oct 16, 2009 10:02 pm

Black Rock Beacon is a 501 (c) 3

Heavy investments in capital equipment were required at the beginning so this was the choice made to protect the assets.

It is run by a council of 15 persons who each pay a portion of the expenses to produce the newspaper each year. This year was $150 each for council fees which cover paper and ink costs as well as travel expenses to get the press there. Other volunteers are recruited to fill various roles as writers, photographers, designers, editors and carriers.

Each council member in addition to their council fee is required to produce X amount of content for the newspaper on playa and X amount during the year for the website.

Since we are from the four corners of the earth, the council has its AGM and election of officers at the burn at 6PM on Saturday or when the bacon is ready.

In addition to five issues printed on the playa, this year we decided to undertake to produce two regional newspapers - one at Lakes of Fire and one at Critical Massive. In 2010, we expect to expand that to other regional events, if possible.

Tax deductible donations are always welcome.

AKAparttime · Post by **AKAparttime** » Sat Oct 24, 2009 11:33 am

Ka Pilina Interactive Arts Society,Inc. (501c3)
aka:Rebirth ( The Official Hawaii Regional ) 06, 07, 08, ?, working on 0/10....
Ka Pilian means The Connection.
www.kapilina.org
We started out as just a small camp.

Theme Camp Incorporation: Who has advice / experience?

Theme Camp Incorporation: Who has advice / experience?

A few further thoughts...

(501c3) Hawaii