For Consideration: Incorporating the Alumni Association

For four years we have been able to a scholarship through the generosity of alumni just like you; this past year we were able to hold our first alumni event, albeit relatively low-key; and, now, as we explore which direction we - as an collective alumni association - want grow, we are asking for your feedback on the idea of incorporating the Crooms AoIT Alumni Association. Incorporation is the act of forming a business entity for the purpose of conducting official business on behalf of various parties (in this case, alumni). Incorporation would mean the Crooms AoIT Alumni Association:
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1. would be a recognized not-for-profit entity in the eyes of the State of Florida, and would therefore eligible for state-exempt status for state business taxes and sales tax;
2. would be eligible for exempted 501(c)3 status, therefore being exempt from federal taxes and be legible to offer tax write-off/exemption letters to donors (at some point in the future, we would file for registered 501(c)3 status);
3. would be REQUIRED to have a management team and governing board/board of directors;
4. would be REQUIRED to publicly disclosure general financial information (but, not the name of donors);
5. would be REQUIRED to hold publicly accessible board meetings and otherwise conduct business in an open fashion similar to that of a government entity, albeit in a less stringent fashion; and,
6. would be required pay approximately $70-80 in filing fees each year.

Overall, the act of incorporation is meant to 1) get the association more organized, 2) provide more opportunities for leadership for our alumni, and 3) provide more fiscal flexibility than previously allowed. Before we move forward on this idea, we would like YOUR feedback on this idea, so please feel free to offer any comments you can. Attached you can find the articles of incorporation, the proposed donor levels, the by-laws, and an organizational chart. We are especially interested in whether you would be 1) willing to step up to the plate to help manage our affairs, 2) if you like the idea of membership tiers, and 3) if you think incorporation is a good idea.