Thinking about the end of The Way over the weekend. It really seems to be in its last throws. It's hard if not impossible to recruit new staffers for HQ. There are fewer and fewer taking the classes. The advanced class is poorly attended, without the grads who retake it again and again, it would be hard to justify at all. Without a steady stream of new advanced class grads, there is no one to be Way Disciples or go in the Way Corps. I think in the not too distant future, these programs will start shutting down. The Way Corps program will end (or be put on hold), the Way Disciple program will follow shortly after. How many more years before they have to close up shop all together?
All of this leads me to wonder: Does Rosalie have an exit strategy? She must right? Any speculation on what it might involve?
How does one liquidate the (millions of dollars worth of) assets of a non-profit corporation?
How does one liquidate the (millions of dollars worth of) assets of a non-profit corporation?
It can be done. All the members of the board of directors must agree to dissolving the corporation. Assets can not be assigned to members of the organization. In essence, what they would have to do is to give all the assets to some other non-profit organization. Providing the related government bodies, as well as the IRS, agreed with the dissolution, the transfer could take place...I see the chances of that happening to be as likely as a snowball fight in (a place where snowball fights don't happen).
It can be done. All the members of the board of directors must agree to dissolving the corporation. Assets can not be assigned to members of the organization. In essence, what they would have to do is to give all the assets to some other non-profit organization. Providing the related government bodies, as well as the IRS, agreed with the dissolution, the transfer could take place...I see the chances of that happening to be as likely as a snowball fight in (a place where snowball fights don't happen).
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Rocky
How does one liquidate the (millions of dollars worth of) assets of a non-profit corporation?
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WordWolf
vpw "sold" the family farm to twi to both be able to pocket the money and to still
have the use of the farm. In the short-term, it served him, and in the long term,
eventually, they'd lose the farm when twi came crashing down completely.
However,
he was able to "run out the clock" and get what he wanted while he was alive.
Once he was dead, what did he care who lost what?
rfr is "running out the clock." She has to keep the organization alive both on paper
and enough of it in physical existence that she can keep using the assets of twi.
Remember, she basically gets slave labor- a cook, a maid, etc. all for nothing
on top of any salary she gets. So, as long as twi exists, she gets all of that.
She's hoping its slow fade into oblivion slides into oblivion more slowly than
she does- and that she won't be dumped and cut out like Mrs W and so many others
were. If she had a conscience, what she's doing would bother her. Those of us
who believe in a God can take some comfort that she's not fooling Him even if
she's fooling the IRS.
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WordWolf
In this case,
I don't know if she can, but I doubt she's trying.
I think she's trying to live off an intact twi while there's one.
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Bolshevik
How?
Didn't Tom Cruise die for her sins?
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shortfuse
Was thinking how great it would be to just dissolve the whole thing and put the funds towards some kind of trust that helped cult survivors.
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waysider
It can be done. All the members of the board of directors must agree to dissolving the corporation. Assets can not be assigned to members of the organization. In essence, what they would have to do is to give all the assets to some other non-profit organization. Providing the related government bodies, as well as the IRS, agreed with the dissolution, the transfer could take place...I see the chances of that happening to be as likely as a snowball fight in (a place where snowball fights don't happen).
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Rocky
Snowball fight in Phoenix in August....?
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Bolshevik
well, if they're "survivors" . . . then they don't really need help? BAHAHAHA . . . j/k
If The Way is not recognized as harmful by any group that has that authority, no victims could be recognized as being victims.
Who would make those decisions? . . . Just hypothetical.
Does Rosie really need an escape plan? I thought as long as she avoids sunlight she just slides into her coffin and sleeps until conditions improve?
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shortfuse
Think I'm just going to sit back, relax and let it happen. Even with all my family entanglements, I'm reaching the limits of my caring.
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