From Dallas Makerspace
DEFCON 17: Hackerspaces: The Legal Bases https://www.youtube.com/watch?v=v176rvSmXek
IRS's maintaining compliance video: http://www.stayexempt.irs.gov/ExistingOrganizations/MaintainingTaxexemptStatus.aspx
- "A nonprofit may not redirect the use of funds donated or raised for one purpose to a different purpose. If a donor gives money for a specific purpose, a nonprofit cannot use the funds for a different purpose. If a nonprofit wants to redirect such funds, it must obtain permission from the donors or file suit seeking permission from a judge and give notice to the Texas Attorney General of the suit."
- These documents clarify disclosure and acknowledgement requirements for donors:
- "All nonprofits must maintain the following information at the registered or principal office of the nonprofit in Texas:
- names and addresses of members, if any, entitled to vote;"
- "Nonprofits must prepare an annual report of financial activity for the preceding year. Nonprofits must prepare or approve an annual report that must include a statement of support, revenue and expenses, changes in fund balances, a statement of functional expenses, and balance sheets for all funds. The report must conform to accounting standards as promulgated by the American Institute of Certified Public Accountants (Sec. 22.352)."