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The Board of
Trustees of Congregation Beth Elohim has determined that it is in the
congregation’s interest to obtain an IRS 501(c)(3) designation letter, which
will require an addition to the By-Laws that explicitly states that the
Congregation’s assets would be used for charitable purposes in the event the
Congregation dissolved. Please note that Congregation Beth Elohim has NO
expectation or intention of dissolving the Congregation or the corporation.
In accordance with
Article X, Section 1 of the Congregation’s By-Laws and in compliance with Section
194 of the Religious Corporations Law, the following constitutes notice of a proposed
By-Laws change, which was approved by the Board of Trustees at its meeting of
September 8, 2008. The reason for the proposed By-Laws change is to enable the
Congregation to apply for a tax exemption designation letter under Internal
Revenue Code 501(c)(3). An IRS designation letter would facilitate the
Congregation’s ability to apply for and obtain financing and grants from banks,
foundations and other institutions.
Article XI
Section 1
Dissolution
Upon the dissolution of Congregation Beth Elohim,
assets shall be distributed for one or more exempt purposes within the meaning
of section 501(c)(3) of the Internal Revenue Code, or
corresponding section of any future federal tax code, or shall be distributed
to the federal government, or to a local government, for a public purpose.
By Order of the Board of Trustees
Date: November 3, 2008
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