Jan 9 - Trappists Caskets Corp and Board of Directors Meetings

The corporate structure for Trappist Caskets, a 501(d) corporation, requires the members and the board of directors to meet once a year.  We held both meetings this morning.  We, the monks of New Melleray Abbey, make up the "members" of the corporation.  Our CPA and our attorney attended the meeting to provide updates on the structure and performance and to ensure our compliance with the government regulations pertaining to the corporation.

Trappist Caskets - New Melleray Abbey

 

from the IRS - Internal Revenue Manual 4.76.29

Apostolic Associations - IRC 501(d)

3. Organizations exempt under IRC §501(d) are ones organized for the purpose of operating a communal religious community where the members live a communal life following the tenets and teachings of the organization.

4. All of the organization’s property is owned in community and, each member, upon leaving the organization, is entitled to no part of the community assets.

5. Activities often consist of farming and manufacturing.

6. The income of the organization goes into a community treasury that is used to defray operating expenses and the cost of supporting and maintaining the members and their families. See Rev. Rul. 57-574, 1957-2 c.b. 161.

Author: New Melleray

Tags: Trappist Caskets; IRC 501d

Recent Articles
By Category

Around the Abbey

Formation

Liturgy

Refectory Book

Schedule

By Month

October 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

May 2016