My wife who has an MBA in non-profits told me that if I started a non-profit that if I and my friends were on the board of this non-profit that we would assume liability of any incurred liabilities or wrongful death suits because of the way laws are enforced and structured here in the state of California. She said it is possible that she would have to legally financially separate from me to protect our finances if I embarked in this direction as a board member and primary donor to a ppg flying club. If I was poor this might not be a problem but because I am not poor becoming a primary funder and board member of a flying clug non-profit might not be useful at all to my wife and I.
However, maybe I wouldn't sit on the board and thereby reduce my liability in that way but still be a primary funder of seed money to get the non-profit flying club off the ground in Mt. Shasta.
This might also be a potential solution to the problem. So, anyway I need to get a lawyer looking at this so I can make my decision one way or the other within the next few months.
No comments:
Post a Comment