We are organizing a fleet in Utah. We got permission from the State yesterday to proceed, however we are facing some difficulty acquiring the necessary insurance policy. We are preparing to file our 501-C3(non-profit) but it appears that may take a while to get. I can have our articles of incorporation filed in 24 hours.
What insurance is out there? I've checked with U.S. sailing and their ins. co. requires a 501-C3.
You may want to consider a "not for profit" status rather than "non profit". I think its easier to qualify for and allows you to put excess funds into reserve accounts for future use as opposed to showing a profit. Many clubs use this format but you should talk to your accountant about it.
Thanks for the help! We are studying the difference between a501c3 and a 501c7. I finally found insurance. Looks like were on our way! We are still working on our bylaws. If anyone could PM me with a copy of your clubs bylaws to model after I'd appreciate it. The bylaws I have are for a PERF fleet and I have to change everything.