Certainly!

Here's a bullet-point synopsis of the information you may need to file Form 1024 with the
IRS to obtain tax-exempt status under section 501(c)(7):

 Organization's legal name and address

 Purpose and activities of the organization
 Organizational structure (e.g., bylaws, articles of incorporation)
 Statement confirming that the organization is organized and operated exclusively for
pleasure, recreation, and other non-profitable purposes
 Statement confirming that no part of the organization's net earnings will inure to the benefit
of any private individual
 Description of membership criteria and qualifications
 Statement confirming that the organization will not discriminate on the basis of race, color,
or religion
 Information about the organization's financial activities, including sources of income and how
funds are used
 Names and addresses of officers, directors, trustees, and other key individuals
 Copies of relevant documents such as articles of incorporation, bylaws, and financial records
 Any additional documentation or explanations required by the IRS

It's important to carefully review the instructions for Form 1024 provided by the IRS, as they may
include specific requirements and guidance for completing the form. Additionally, consulting with a
tax professional or legal advisor who is familiar with the process can help ensure that you provide all
necessary information accurately and efficiently.

I've total of 5 founding members including me. But the company was incorporated in my name and
there's no members as I mentioned earlier. How do I involve the other 4 founding members in the
organization - as officers or directors or key individuals.
ChatGPT
To involve the other four founding members in the organization, you have several options
depending on the roles and responsibilities you want them to have within the organization:

1. Officers: You can appoint them to officer positions such as President, Vice President,
Secretary, or Treasurer. Each officer role carries specific responsibilities within the
organization's leadership structure.
2. Directors: You can appoint them as members of the board of directors. Directors are
responsible for overseeing the organization's activities and making strategic decisions on
behalf of the organization.
3. Key Individuals: Even if they are not officers or directors, you can designate them as key
individuals within the organization who hold important roles or responsibilities. This could
include positions such as committee chairs, advisors, or other leadership roles.

Here are the steps you can take to involve the other founding members:
  Review the organization's bylaws: Check the organization's bylaws, if you have them, to see if
there are any specific provisions regarding the appointment or election of officers, directors,
or key individuals.
 Hold a meeting: Convene a meeting of the founders to discuss and decide on the roles and
responsibilities each member will have within the organization. During this meeting, you can
also formally appoint or elect officers, directors, or key individuals as needed.
 Document the appointments: Prepare written documentation, such as minutes of the
meeting or resolutions, to formally appoint or elect the individuals to their respective roles
within the organization.
 Update official records: Ensure that the organization's official records, including any filings
with the state and internal documents, reflect the appointments of the other founding
members to their respective roles within the organization.
 Communicate with stakeholders: Inform relevant stakeholders, such as members, employees,
and external parties, about the appointments of the other founding members and their
respective roles within the organization.

By involving the other founding members in the organization and assigning them specific roles and
responsibilities, you can distribute the leadership and decision-making responsibilities and ensure
that the organization benefits from the collective expertise and contributions of all members.

And I need to do this activity regardless because I've to file form 1024, right?
ChatGPT
Yes, involving the other founding members and appointing them to roles within the organization is
typically necessary regardless of whether you're filing Form 1024 for tax-exempt status.

Form 1024 requires you to provide information about the organization's structure, including its
officers, directors, and key individuals. Even if your organization doesn't have traditional members,
you'll still need to designate individuals who hold key positions within the organization, such as
officers and directors, as part of the application process.

Additionally, having a clear organizational structure and defined roles for all members helps ensure
effective governance and management of the organization, which is important for its overall success
and compliance with legal requirements.

Therefore, involving the other founding members and formalizing their roles within the organization
is an important step to take regardless of the specific requirements for Form 1024. It helps establish
clarity, accountability, and proper governance within the organization.

Do I need to do this to file form 1024 or can I get away not doing it for now
ChatGPT
When filing Form 1024 for tax-exempt status under section 501(c)(7), you'll need to provide
information about the organization's structure and key individuals. While you could technically file
Form 1024 without fully establishing the roles and responsibilities of the other founding members,
it's generally advisable to have a clear organizational structure in place before submitting the
application.

Having a defined structure with appointed officers, directors, and key individuals helps demonstrate
to the IRS that the organization is well-organized and capable of fulfilling its stated purpose. It also
ensures that the organization has the necessary leadership and governance structures in place to
operate effectively.

Therefore, it's recommended that you involve the other founding members and formalize their roles
within the organization before filing Form 1024. This will not only help strengthen your application
for tax-exempt status but also establish a solid foundation for the organization's operations and
governance moving forward.