By Brian Peterson, SHARE Deputy Director, Governance
The time to vote is now! We ask each SHARE Member organization to vote on the proposal to transfer our assets and operations to the new tax-exempt entity SHARE Association. The SHARE Board of Directors recommends that the Membership approve this action.
At SHARE Providence in August, we held a Town Hall presentation where SHARE’s attorney described for the Membership the process of transitioning operations to our new tax-exempt entity.
The information presented was highly informative and the audience was certainly engaged—with questions coming on many topics related to the restructuring initiative.
For those who were unable to join us in Providence, click here to access a full recording of the Town Hall.
For those looking for a bit more history on this very significant item:
SHARE began as the first-ever enterprise IT user group back in 1955, and in 1970 was incorporated as “SHARE Inc.”, a not-for-profit Delaware-based corporation. While originally tax-exempt, SHARE Inc. has been subject to both state and federal corporate income taxes since the mid 1980’s and has paid many tens of thousands of dollars in these taxes.
Over the last decade, SHARE has expanded its mission to serve the broader enterprise technology community, and as a result, SHARE’s Board of Directors (with the advice of our attorney) has determined that SHARE’s broader mission qualifies SHARE for tax-exempt status as a trade association.
In 2016, SHARE’s Board of Directors created a new not-for-profit Delaware corporation “SHARE Association” which has been granted tax-exempt status under Internal Revenue Code section 501(c)(6) “business league”. SHARE Association’s initial operations have been to perform various services as a subcontractor for North Carolina A&T’s LEAD-IT contract with the US Department of Labor.