GLENN CASHION2/7/2015 : I reviewed my old OHA files and I have no additional info on prior discussions re non-profit status. Ten years ago I completed 501(c)3 application material for a scholarship fund at my old high school. It was a lengthy application and took several months for IRS approval. Likewise, I am the President of the Brown Club of Central NJ which has similar status. As I stated in my earlier email, OHA doesn’t have non-profit status. I’m not that familiar with the 501(c)4 designation. I do agree that OHA is not a charitable organization; thus, I don’t believe a “3” designation would be applicable. I defer to more knowledgeable accounting types to decide if a “4” designation is appropriate.
EARLIER REPLY FROM GLENN: I will double check later today; however, I don't believe we ever filed for 501(c)3 status. Having a Federal EIN is not sufficient to 501(c) status. Filing for such status is onerous but doable.
Glenn (OHA Treasurer - pre 2007)
Rebecca Iacobellis, 2/6/2015: Whoever has the by laws and incorporation documents could answer this for you. I would think it was a 501(c) (4) not (c) (3) since it is not a charitable organization rather a neighborhood association but it was set up a while ago so I could be wrong.
Jack Nolan (OHA treasurer until end of 2014), 2/6/2015: I tend to agree with the comments from Rebecca. Not sure if it was a Section 3 vs 4.
Yesterday, I had reason to go into the Bank of America. While there I spoke to my contact at the bank and mentioned
that I am no longer the Treasurer at OHA and on March 2, 2015 the Cert of Deposit that we have on file there will need
to be rolled over or have the time period altered.
My contact then looked up the records relating to Oak Hill Association. The data they have is very old and not very
informative (i.e. Organizational set-up, bank resolution card (as to who can sign checks). I believe the account
was originally set-up at the Bank of America office in Lincroft. That branch is no longer there.It seems that my name is
is the only one to sign checks, tax information, E.I.N. numbers etc etc). Therefore, I will be asking one of the officers
to sign a letter releasing me from my duties and my responsibilities as Treasurer). She then stated that since
9/11 the rules and regulations are a lot more tighter than they were when OHA was set-up. She then stated that
she would need a lot of information (Oscar and I found that out when we spoke to the bank rep at Wells Fargo
where we have the other Cert of Deposit). Her recommendation was to close out the C/D at Bk of America
especially since the
organization has now changed its name to OHCA (to confuse matters ever further). She ask that I and an
officer of the organization visit her at the bank and have a check issued to the organization and have me sign for
it (since she doesn't know anybody in the organization except me). We then can take the check and bring it to
Wells Fargo and deposit it into that bank. She hated to lose our account but it would be the easiest thing to do.
Any comments would be appreciated and an estimated date as to when we can finalize this matter.
RELATED BUT UNRELATED TO THE ABOVE
There maybe other matters to address with the McCue Insurance Agency about our General Ins policy and the Directors
and Officers Liability policy, especially since the name and new Treasurer has been changed. These two policies are
coming due for renewal. I don't advise that the organization be without insurance coverage. Once again Chris
at McCue only knows me so I will need another release form and then have Oscar take this up from here on out.