I need to disperse money from an old account to a group, looking for ideas

[timberland]

We started a Quality Deer Management Co-op about 15 years ago with a large group of neighbors and friends. We had fundraisers and banquets, and earned enough money to buy a trailer, a disc, and a couple other odds and ends. We have about $3,500 left in a checking account.
The problem is the group fizzled out. No more meetings or banquets. I helped get it established, but after ten years of my brother in law and myself doing all the organization, etc. we tried to hand it off and nobody took it up.
The QDM part of it worked for the ten years or so, but deer hunting has pretty much reverted back to the way it was, nor organization, no rules or bylaws, everyone just shooting whatever they want, etc.

I need to do something with the money and equipment, its not mine, its the groups. I haven't had a conversation with most of the "members" for 5 years or more.
Whatever I do has to be in the best interest of the group, so if someone asks, I can justify an explanation.

Looking for input, suggestions, ideas, etc.

 

[Trial153]

Myself and a friend were the last two members in beagle club that was no longer functioning, we have a small amount of money in a saving account, some were just shy of 20k. Our bylaws stated that upon the disillusionment of the club any assets or proceeds would be given to other non for profits..
We decided to divide the money up and donate to other beagle clubs to help provide for the future of the sport.
My suggestion is to donate to a NFP that is carring on the ethos of what you club was intended to accomplish.

 

[cjl32]

Have the equipment appraised or research and set a fair market price. Offer it to the members prior to the public. Maybe at a 10-20% discount for members to facilitate a quicker and easier sale. If no members buy, put it up for sale in local papers, craigslist (don't know anymore if the juice is worth the squeeze on this option), etc. Gradually reduce price until everything sales. Any expense associated with facilitating sale should come out of checking account.

Add proceeds from sale to $3,500 in checking account and divide evenly between members. Close account.

Probably going to be a little work and aggravation for you, but at least it will be resolved and off your plate.

 

[tim tarras]

Do you have some type of outdoor Youth organization (hunting, shooting) in the area? You could donate the money to them and possibly donate the equipment to them to raffle off depending on its condition.

 

[PNWGATOR]

I’d recommend selling all of the equipment and adding the proceeds to the groups checking account and then dividing all of the assets amongst the members and mailing everyone a check.

 

[tdhanses]

Sounds to me like a general partnership could have been formed. Before you donate the funds I would contact each member. If there was no agreement on how funds would be broken up each is probably due an equal share. I would just sell the equipment and add the funds to the account then send everyone a check. I would also mail out a notice 30 days prior to all members letting them know the intentions to close this down and the current value of the cash and what assets are for sale. Give them time to respond, if no response close it out and distribute.

If your worried about possible legal issues consult an attorney and have it paid for by the funds as it’s in the interest of the group.

 

[SoDaky]

Good advice here I think.I'm assuming no non-profit was established.If by chance it was-an entirely different game and real care needed.
If it was a non-profit,feel free to PM me.

 

[timberland]

There was no real membership, hunting camps threw in what they felt like, some donated more, some donated at events, I some others gave substantially in time and money, others gave none.

Reaching out to everyone that was involved is probably not feasible. seasonal involvement, people moving away, etc.

 

[Desk Jockey]

Sounds to me like a general partnership could have been formed. Before you donate the funds I would contact each member. If there was no agreement on how funds would be broken up each is probably due an equal share. I would just sell the equipment and add the funds to the account then send everyone a check. I would also mail out a notice 30 days prior to all members letting them know the intentions to close this down and the current value of the cash and what assets are for sale. Give them time to respond, if no response close it out and distribute.

If your worried about possible legal issues consult an attorney and have it paid for by the funds as it’s in the interest of the group.

Touch base with a lawyer and get their take. My mom is in a bit of a mess with a small town art center where the president (not my mom) has been abusing the piggy bank. It can turn into a pain in the ass, even if you are trying to do the right thing.

 

[tdhanses]

There was no real membership, hunting camps threw in what they felt like, some donated more, some donated at events, I some others gave substantially in time and money, others gave none.

Reaching out to everyone that was involved is probably not feasible. seasonal involvement, people moving away, etc.

Yeah doesn’t take but a few people to create something that they never intended. I would consult an attorney personally.

 

[bawana]

Definitely contact an attorney, you'll be amazed at how many "Inactive" members will appear for money. If you don't have the disposition in some sort of club constitution or bylaws it can get ugly. Does QDMA have any suggestions?

 

[huntdoc]

Wow, lots of hurdles to overcome. If you get around those, consider funding a scholarship locally for someone studying wildlife or similar interest. Donate toward 4-H shooting sports, youth outdoor camps, etc. Could do a lot of interesting things if the money is not turned back.