Responsible after I am gone? I have helped set up all the paperwork.

Oct 13th, 2006, 03:04 AM

If I've helped set up all the paperwork for both state and federal in a Non Profit but am no longer able to actively participate on the board, if everything should fall into bankruptcy would I be held accountable for any financial responsibility? On a lot of the paperwork they asked for my social security number and those of other founding members. Is this possible or am I paranoid?

Jan 14th, 2011, 03:49 PM

Board members and officers can be made to be liable.

You need to wind down or dissolve the entity properly to avoid those problems.

Jan 17th, 2011, 07:22 PM

I have an established Non-profit but I want to know if a Business account is specifically needed to operate or will any account suffice?

Oct 13th, 2006, 03:04 AM	#1
Unregistered Guest Posts: n/a	Responsible after I am gone? I have helped set up all the paperwork. If I've helped set up all the paperwork for both state and federal in a Non Profit but am no longer able to actively participate on the board, if everything should fall into bankruptcy would I be held accountable for any financial responsibility? On a lot of the paperwork they asked for my social security number and those of other founding members. Is this possible or am I paranoid?

Jan 14th, 2011, 03:49 PM	#2
Unregistered Guest Posts: n/a	Re: Responsible after I am gone? I have helped set up all the paperwork. Board members and officers can be made to be liable. You need to wind down or dissolve the entity properly to avoid those problems.
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Jan 17th, 2011, 07:22 PM	#3
Unregistered Guest Posts: n/a	Re: Responsible after I am gone? I have helped set up all the paperwork. I have an established Non-profit but I want to know if a Business account is specifically needed to operate or will any account suffice?
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Responsible after I am gone? I have helped set up all the paperwork.

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