Post by Shauna on Sept 5, 2013 20:46:13 GMT -5
Dear Neighbors and Friends in Glen Haven:
Up until now I have tried very hard to stay out of the Koo vs. GHPOA issue. I have tried to facilitate a bulletin board for my neighbors to use for the benefit of the community. Having read the letter from Mr. Amore, Mr. Yuen's attorney, I can no longer keep silent.
I am requesting that the board immediately accede to Mr. Yuen's request and turn over all documents to his lawyer both minutes and financial statements. I would additionally formally here request to have a copy for myself, Minutes for the last 2 years, financial records 2years and record of members. I am sorry if this makes some of my neighbors upset however I am taking this action with the best interests of our common property in mind. Please be mindful that I am not involved in any lawsuit with Glen Haven nor will I become so involved. I request these for the following reasons.
1. We are a 501 (C) 3 tax exempt corporation. We are extremely LUCKY, or BLESSED to have this status which we would NOT qualify for if we applied today as the rules changed in 1982 see www.irs.gov/pub/irs-tege/eotopicr82.pdf
2. Board meetings are supposed to be open to the public with agendas and minutes posted according to a legally prescribed schedule. Is there a reason that these records are not being disclosed and meetings are not announced? If so, please disclose the reason.
3. WV State Law regarding Non-Profit Corporations states that "any member of a corporation" may:
§31E-15-1502. Inspection of records by members.
(a) A member of a corporation is entitled to inspect, during regular business hours at the corporation's principal office, any of the records of the corporation described in subsection (e), section one thousand five hundred one of this article if he or she gives the corporation written notice of his or her demand at least five business days before the date on which he or she wishes to inspect.
(b) A member of a corporation is entitled to inspect, during regular business hours at a reasonable location specified by the corporation, any of the following records of the corporation if the member meets the requirements of subsection (c) of this section and gives the corporation written notice of his or her demand at least five business days before the date on which he or she wishes to inspect and copy:
(1) Excerpts from minutes of any meeting of the board of directors, records of any action of a committee of the board of directors while acting in place of the board of directors on behalf of the corporation, minutes of any meeting of the members, and records of action taken by the members or board of directors without a meeting, to the extent not subject to inspection under subsection (a) of this section;
(2) Accounting records of the corporation; and
(3) The record of members.
(c) A member may inspect and copy the records described in subdivisions (1) and (2), subsection (b) of this section and may inspect the records described in subdivision (3), subsection (b) of this section only if:
(1) His or her demand is made in good faith and for a proper purpose;
(2) He or she describes with reasonable particularity his or her purpose and the records he or she desires to inspect; and
(3) The records are directly connected with his or her purpose... The right of inspection granted by this section may not be abolished or limited by a corporation's articles of incorporation or bylaws.
2. We have been put on notice that Mr. Yuen has asked for documents which he is legally entitled to receive according to West Virginia and Federal tax code law and has been denied them.
3. Mr. Yuen's attorney has mentioned the tax implications of taking actions that are in opposition to a members' rights. I feel it is not in our best interest to continue to stand in opposition to Mr. Yuen's request. It does not matter if Mr. Yuen is involved (as I was informed by a board member) in 48 lawsuits or 480.
4. I believe it is in the best interest of Glen Haven and it's residents to work out a compromise in which everyone sacrifices and benefits which is the nature of compromise.
Should something occur to cause us to be investigated by the IRS which leads to the loss of our tax exemption, we will be liable for back taxes on dues, which would then be counted as ordinary income back for many years. There would be penalties assessed on top of the back taxes. Should we not be able to pay these amounts, the IRS could levy our bank accounts and foreclose on all our common property. Our common property would probably then eventually be sold at tax auction. We are in great peril that the possibly well meant but ill-informed actions of our representatives on the board will lose our common property for us.
It was mentioned to me by Jenny Thacker that the GHPOA is disavowing responsibility for their actions with regard to Mr. Yuen and that it is a group of private citizens who are responsible. Please be aware that there is no way that the GHPOA will be able to absolve itself from responsibility in these actions as it is well known that the board has held meetings regarding this subject and board members are deeply involved.
Please note that I have resisted taking sides here in the issue regarding Mr. Yuen. I have asked that records be disclosed according to State and Federal Law in order to save us from dire legal and tax implications. I hope that this actions saves our common property from becoming the property of others.
By this document, I rescind my signature on the petition that was circulated to me by Elina Green regarding the rental activities of Mr. Koo Yuen. William Johnstone rescinds his signature as well. We can no longer take any action which endangers our common property in Glen Haven, and hope everyone understands that we do this with the best of intentions for our association and especially for our community.
Shauna Johnstone
Bill Johnstone
Up until now I have tried very hard to stay out of the Koo vs. GHPOA issue. I have tried to facilitate a bulletin board for my neighbors to use for the benefit of the community. Having read the letter from Mr. Amore, Mr. Yuen's attorney, I can no longer keep silent.
I am requesting that the board immediately accede to Mr. Yuen's request and turn over all documents to his lawyer both minutes and financial statements. I would additionally formally here request to have a copy for myself, Minutes for the last 2 years, financial records 2years and record of members. I am sorry if this makes some of my neighbors upset however I am taking this action with the best interests of our common property in mind. Please be mindful that I am not involved in any lawsuit with Glen Haven nor will I become so involved. I request these for the following reasons.
1. We are a 501 (C) 3 tax exempt corporation. We are extremely LUCKY, or BLESSED to have this status which we would NOT qualify for if we applied today as the rules changed in 1982 see www.irs.gov/pub/irs-tege/eotopicr82.pdf
2. Board meetings are supposed to be open to the public with agendas and minutes posted according to a legally prescribed schedule. Is there a reason that these records are not being disclosed and meetings are not announced? If so, please disclose the reason.
3. WV State Law regarding Non-Profit Corporations states that "any member of a corporation" may:
§31E-15-1502. Inspection of records by members.
(a) A member of a corporation is entitled to inspect, during regular business hours at the corporation's principal office, any of the records of the corporation described in subsection (e), section one thousand five hundred one of this article if he or she gives the corporation written notice of his or her demand at least five business days before the date on which he or she wishes to inspect.
(b) A member of a corporation is entitled to inspect, during regular business hours at a reasonable location specified by the corporation, any of the following records of the corporation if the member meets the requirements of subsection (c) of this section and gives the corporation written notice of his or her demand at least five business days before the date on which he or she wishes to inspect and copy:
(1) Excerpts from minutes of any meeting of the board of directors, records of any action of a committee of the board of directors while acting in place of the board of directors on behalf of the corporation, minutes of any meeting of the members, and records of action taken by the members or board of directors without a meeting, to the extent not subject to inspection under subsection (a) of this section;
(2) Accounting records of the corporation; and
(3) The record of members.
(c) A member may inspect and copy the records described in subdivisions (1) and (2), subsection (b) of this section and may inspect the records described in subdivision (3), subsection (b) of this section only if:
(1) His or her demand is made in good faith and for a proper purpose;
(2) He or she describes with reasonable particularity his or her purpose and the records he or she desires to inspect; and
(3) The records are directly connected with his or her purpose... The right of inspection granted by this section may not be abolished or limited by a corporation's articles of incorporation or bylaws.
2. We have been put on notice that Mr. Yuen has asked for documents which he is legally entitled to receive according to West Virginia and Federal tax code law and has been denied them.
3. Mr. Yuen's attorney has mentioned the tax implications of taking actions that are in opposition to a members' rights. I feel it is not in our best interest to continue to stand in opposition to Mr. Yuen's request. It does not matter if Mr. Yuen is involved (as I was informed by a board member) in 48 lawsuits or 480.
4. I believe it is in the best interest of Glen Haven and it's residents to work out a compromise in which everyone sacrifices and benefits which is the nature of compromise.
Should something occur to cause us to be investigated by the IRS which leads to the loss of our tax exemption, we will be liable for back taxes on dues, which would then be counted as ordinary income back for many years. There would be penalties assessed on top of the back taxes. Should we not be able to pay these amounts, the IRS could levy our bank accounts and foreclose on all our common property. Our common property would probably then eventually be sold at tax auction. We are in great peril that the possibly well meant but ill-informed actions of our representatives on the board will lose our common property for us.
It was mentioned to me by Jenny Thacker that the GHPOA is disavowing responsibility for their actions with regard to Mr. Yuen and that it is a group of private citizens who are responsible. Please be aware that there is no way that the GHPOA will be able to absolve itself from responsibility in these actions as it is well known that the board has held meetings regarding this subject and board members are deeply involved.
Please note that I have resisted taking sides here in the issue regarding Mr. Yuen. I have asked that records be disclosed according to State and Federal Law in order to save us from dire legal and tax implications. I hope that this actions saves our common property from becoming the property of others.
By this document, I rescind my signature on the petition that was circulated to me by Elina Green regarding the rental activities of Mr. Koo Yuen. William Johnstone rescinds his signature as well. We can no longer take any action which endangers our common property in Glen Haven, and hope everyone understands that we do this with the best of intentions for our association and especially for our community.
Shauna Johnstone
Bill Johnstone