Legal Question in Business Law in California
California non-profit corporation - finances and budgets
My sports association is a non-profit California corporation. Member clubs pay $2500 annual dues, which is spent variously on facilities, organization, trophies and awards events etc. Is it regarded as 'illegal' to change the way in which these dues are appropriated - for example, by spending far less than budgeted for a particular item so that other, more urgent needs can be paid for?
Asked on 11/15/08, 11:19 pm
1 Answer from Attorneys
Re: California non-profit corporation - finances and budgets
Check the bylaws of the non profit to determine if they address this issue. Otherwise, the board of directors has leeway in appropriating funds.
Answered on 11/17/08, 8:33 pm
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