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#1 |
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Might be the dumbest question ever but ,,,,,,,Who owns NHRA.........?????????? If someone bought NHRA today who would get all the money ??
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#2 |
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Stan, if I'm reading the tax laws correctly, no one actually "owns" what the IRS classifies a 501(c) non profit organization.
That's part of what makes it "non profit", no one "owns it", allows it to build up, then sells it. Sort of makes you wonder how part of the NHRA itself was supposedly going to be "sold", doesn't it?
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Alan Roehrich 212A G/S |
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#3 |
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That's part of what makes it "non profit", no one "owns it", allows it to build up, then sells it.
Ok i understand build it up and then sell it but who get the money ???? Told you it was a dumb question LOL....... |
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#4 |
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Good question. Who was going to get the money from the aborted sale a couple of years ago? I bet it was going to go to the "members". Yeah, that's it, The "members" would get the money because NHRA is providing it's "members" with a servicing.... I mean service. Jim
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Jim Wahl....NHRA #2239 S/SS - IHRA # 8 Stock, D2 Stock Champion (forever I guess) 2019 Baby Gators Stock Champion 2009 NHRA D2 National Open Stock Champion 1982 NHRA D2 West Palm Beach LDRS SS Runner Up Past President, Southern Stock / Super Stock Association. ![]() |
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#5 |
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Weren't the proceeds of the sale to go into a "trust fund" to allow future financial support of Sportsman and grass-roots racing?
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Paul Neal 119E TD/SC Dan Page 265" w/ Martin 632 6.490 @ 205.76 ...all motor! |
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#6 |
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A trust fund that Tom Compton was surely going to oversee and draw upon as necessary to pay various "bills".
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Jason Oldfield S/G & S/St 1838 |
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#7 |
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That's part of what makes it "non profit", no one "owns it", allows it to build up, then sells it.
Not a dumb question at all, but one we were all wondering about the answer to when they were going to try to sell it. There were all sorts of weird things going on, a company formed to sell it, a company formed to buy it, etc. Who knows who was going to actually get the money, or control of it. I'm sure they didn't want anyone to know.
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Alan Roehrich 212A G/S |
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#8 |
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The Articles of Incorporation or Bylaws will state how the assets are distributed upon a dissolution. The assets would either be distributed to another tax exempt organization or to the members. As NHRA is a California corporation, any dissolution plan would have to be approved by the State Attorney General's office.
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Julie Jordan 7549 STK |
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#9 |
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DUI defense fund?
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Chad Rhodes 2113 I/SA |
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#10 |
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I normally don't wish anyone ill. But this time I pray the IRS does to them what they have been doing to us for years.
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Art Leong 2095 SS |
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