bylaws of the american society of São PAulo
Dear members of The American Society of São Paulo,
Explanation for the Change in the American Society’s Bylaws
In April during the Annual General meeting our members voted unanimously in favor for a change in the Society Bylaws.
Although still in the process of being ratifies by the relevant authorities we would like to give you an explanation of why these changes were deemed necessary by the board.
AmSoc will change from being an association (Legally not allowed to participate in monetary charitable giving) to becoming an official Civil Society Organization which is a private non-profit institution that provides a service with the aim of social improvement. The values and traditions of the American Society as well as services provided to members built up over 70 years will, of course, be honored and maintained.
Approved in 2014, Law No. 13,019 establishes the legal standing for partnerships between civil society organizations and public administration (Government) and prohibits the distribution among its associates, directors, officers, employees, donors or third parties any results, surpluses, operating surpluses, gross or net, dividends, exemptions of any nature, interests or portions of their assets, earned through the exercise of its activities. It requires the application of the entirety of these resources to achieve its stated purpose – social improvement, either immediately or through the constitution of an equity fund or reserve fund.
There is very little change here as the American Society has been run with these principles in mind for many years. HOWEVER, the big benefit of this legal status change is that in future we will be able to extend to donors, be they individuals or companies the legal option of recording monetary donations to AmSoc to cover our operating expenses as a approved charitable donation and enjoy a sizable deductible for tax purposes *certain terms apply.
The American Society will also be able to prepare specific projects involving sport, culture, and charity, from kids to elderly and veteran’s assistance, for approval by different Federal, State and Municipal bodies and funds raised in support of these projects can also be, depending on the amount and the government entity involved, fully tax deductible. *once again certain terms apply.
We hope that this will make donating to AmSoc by our corporate and private partners are more tax friendly proposal. With these new bylaws in place the American Society will forthwith be able to provide services such as advertising and event organization and issue invoices, in full compliance with federal, state and municipal legislation.
Patricia C. Campbell – President