Quote:
Originally Posted by Steven Smith
Also as a note, there are pretty clear rules about dispersing assets from a 501c3 to a private individual (aka, you usually can't). If the 501c3 no longer has a need for it they can sell it or donate it to another non-profit organization (say another team in the area).
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I believe the extension office the team is under is considered a 501(c)3, though I will have to check on that.
I'm trying not to air any dirty laundry, but the two organizations the team is under would like to discontinue their support and put the team's assets to use in STEM projects in the community. The head coach would like to take the assets and the team, such as it is, elsewhere. Or at least that is my understanding.