Author Topic: Just some thoughts  (Read 3964 times)

Thomas B. Thompson

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Just some thoughts
« on: January 10, 2009, 12:18:11 AM »
First of all, I'd like wish everyone a " Happy New Year ".
To those new members I haven't met yet, I'd like to introduce myself.
I am Thomas B. Thompson from Indiana by way of Colorado by way of Virginia. I am the 7th generation of Thompsons traced back to North Carolina (1870's ) so far. My sons/daughters and grandchildren make up
the  8th and 9th generations. With 4 brothers and two sisters along with
their crews, we total about 70. My girlfriend and her crew total 22.
Hopefully some time in the near future, I will be able to say that all
of them are members of Clan Thompson Society.
I was reading a few old items on the old computer and I would like to
make a suggestion concerning the " ARMS " issue as I didn't see a lot of
feedback on the subject. So, here goes! As I understand it, we have at least
a 3 year waiting period before we can even make/submit a petition/appilaction. I think the funding for the cost could done in this manner and not be a finacial burden on anyone. A donation of 51.00
dollars,spead out over the 3 year waiting period ( THAT'S $ 17.00 A YEAR)
from each member and set up in some type trust fund until it's time to
use it for the process of obtaining the " ARMS ". If any one out there that
has any experience in types of trusts and could suggest some ways to
set this up, it would be very helpful. Hope to see a lot of new faces at AGM
in Glascow, KY this year.
Best Regards 
Tom THompson  ( the good looking one )

Thomas Thompson

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Re: Just some thoughts
« Reply #1 on: January 11, 2009, 10:34:33 AM »
I think Tom (the good looking one??? has a valid point. The stumbling point in being able to apply for Corporate Arms is that a Corp. should have a history of at least 3 to 5 years for Lord Lyon consideration. This is to insure that the Corp. is valid and is likely to endure.  The total cost is about $3700 (depending upon the exchange rate) with about $350 of that being a non-refundable deposit submitted with the petition. Tom's point is that if we set up a fund to accept donations the actual cost will not use all of our funds. If we are able to become a 501(c)3 organization it will not only enhance our status as an valid Corp for Lyon; it will provide  a tax deduction for those who make donations to the fund. The problem is that as volunteers, we don't know very much about how to set up a fund or trust that will meet IRS requirements. 
    We need suggestions from our members and those who have experience in such matters.  Any and all suggestions are needed so that we can make the right decisions that reflect the wishes of the majority of our members.
 Are you for or against it?
If you think it is a good idea - how should we do it? We have time, at least two years, and if we act now we will have the money to do it.
Tom -  the old one???

Barbara

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Re: Just some thoughts
« Reply #2 on: January 19, 2009, 04:02:54 PM »
Tom, "the good looking one" and Tom, "the old"  ;D (you said it I didn't  ;D) I think it's a great idea, so here's my vote for it.

Barbara
"Kindness is the language the deaf can hear and the blind can see." - Mark Twain

Booner

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Re: Just some thoughts
« Reply #3 on: February 01, 2009, 05:15:16 PM »
Wwll,  I'm for the idea of setting us up as a 501 c3. As I understand it, thats the first step.

Booner

Rich08

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Re: Just some thoughts
« Reply #4 on: March 13, 2009, 06:16:18 PM »
You guys move about as fast as the Congress does on Social Security.

I've been gone for about ten months and there still seems to be an inertia that drives me nuts.

Let's move it.

Thomas Thompson

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Re: Just some thoughts
« Reply #5 on: March 15, 2009, 12:32:44 PM »
I do regret that we seem to take too long.  However, there are very few willing to pitch in and help. The few are working on this are making progress, and plan on being able to make a report at the AGM in Glasgow.
Tom

Michael Thompson

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Re: Just some thoughts
« Reply #6 on: March 18, 2009, 08:00:58 PM »
I must have missed this thread when it first came out, but it seems like a good idea to me.

Sorry Rich, for moving so slow...  ;)
The Reivers Ride Again!