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Creating a Cabin Defense Fund
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3/30/2013 at 4:44:40 PM GMT
Creating a Cabin Defense Fund

Our association is looking into creating a Cabin Defense Fund.     Before we bring the issue to a vote of the membership, the board would
like to have a document which provides details of how the fund will be managed.

Has anyone have a document which outlines how their Cabin Defense Fund works?   Specifically we're looking for a document that describes:

·        What is a "Cabin Defense Fund”
·        Why have one?
·        How is the money collected?
·        Who manages the fund?
·        How is the money handled?  (i.e. checking account, short term investments, etc.)
·        What criteria is used to determine where the money is spent?
·        Who determines where the money is spent?
·        What happens to the money should the association dissolve as an organization?

Thanks!
Dave

 



4/2/2013 at 3:30:41 AM GMT
Posts: 0

Dave,

Thanks for posting your question to our forum!  To get a better understanding of your particular situation, a bit of additional information would be helpful.

What are your associations goals in establishing a seperate, designated fund?  For example:

  • Establishing a fund to make contributions to C2 and their efforts in passing CFA legislation.
  • Establishing a legal fund to fight local issues that your cabin owners are facing (water issues, permits, appraisals/appeals, etc..).
  • Establishing a fund to help pay for routine expenses that may be incurred in the future (road maintenance, tree removal, water system upgrades, etc...).

Is your association a formal association (i.e., filing tax returns with IRS/state)?  If so, what is your IRS non-profit status?  Or, is your association an 'informal association'?

I look forward to hearing more about your associations situation and details.

Glen (moderator)

 



Last edited Tuesday, April 2, 2013
4/2/2013 at 11:10:51 PM GMT

Hi Glen!

Thanks for responding to my request.

CPCOA is an informal group at this point.   I don't believe that we are registered with either the State of Washington or the IRS. 
We never saw a point to doing so until now.

Our interest in creating a defense fund is to enable our organization to defend cabin ownership at both the local and national level.  We
have no interest in using the funds to do operational things like road maintenance, etc.

Currently whats driving this is not only  supporting the C2 efforts, but also 15 of our members are currently fighting the Forest Service and Bureau of
Reclamation on the addition of some language in their 2009 permits that would enable BoR to require cabin owners to remove their cabins within
90 days at the cabin owners expense should the BoR  choose to raise the lake and flood the cabin tract.   The cabin owner have raised and spent
almost $15,000 in an effort to block the effort.   Unfortunately CPCOA dosn't currently have the funds to help them out financially, so we want
to start a fund so we can do so for other similar situations in the future.

Dave



Last edited Tuesday, April 2, 2013