[Txlibdistricts] Re: Trustees composition, stipend; 501(c)(3) issue

[Diannek]

we almost always have appointed replacements and have not held elections either in a long time. we use the 501c3 from the FOL for grants and donations that require it. the accoutant includes it in our audit as the amounts can be fairly large at times. we keep the account marked FOL at the bank and at paypal but the same board members manage our FOL account. 
 
Dianne Koehler
Wells Branch Community Library
tel: 989-3188  cell: 507-0116

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From: txlibdistricts-bounces at lists.tsl.state.tx.us on behalf of Karen S. Weber
Sent: Thu 2/7/2008 1:45 PM
To: 'Gary Knight'; txlibdistricts at lists.tsl.state.tx.us
Subject: RE: [Txlibdistricts] Re: Trustees composition, stipend;501(c)(3) issue



Johnson City does not have stipends either.  Our board has consisted of men, women, retired and  people with children but we have not had hispanic representation.  We would like to.  In the 5 years we have been a district we have only had to hold one election.  All others were unapposed.  Fill me in on the 501c3 for taxing districts.  Our library has a 501c3 and we still operate with that to acquire donations to our library.  Is this something we need to talk with our accountant about?   We have all our funds together.  Karen Weber, VP North Blanco Co Lib District

 

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From: txlibdistricts-bounces at lists.tsl.state.tx.us [mailto:txlibdistricts-bounces at lists.tsl.state.tx.us] On Behalf Of Gary Knight
Sent: Thursday, February 07, 2008 9:47 AM
To: txlibdistricts at lists.tsl.state.tx.us
Subject: [Txlibdistricts] Re: Trustees composition, stipend; 501(c)(3) issue

 

The Wimberley Village Library District does not offer any stipend to its Trustees. We have not had a problem filling the Board with a broad representation of the community. Over the past couple of years, we've had a wide range of ages (30s to 60s), occupations (publisher, writer, retired banker, landscape architect, retired US civil servant, etc.), and one mother of school aged children.

 

To get around the problem of Districts not being able to qualify for 501(c)(3) status, we created a non-profit Foundation and qualified it for such status. We also have a Friends organization with that status. Depending on the ultimate objective, these organizations serve as conduits for grant funds.

 

Gary Knight, Board President

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