openPR Logo
Press release

PAII is now a NON-PROFIT Corporation

Three years ago, at the PAII Conference in Austin Texas, we announced that we would transition PAII from a “For Profit” Corporation to a “Non Profit” Corporation. As promised, we’ve done it!

PAII was originally founded – back in 1987 – as a for-profit association. Because PAII has always operated similarly to a non-profit, that is, the income went to fund operations and was not distributed to ‘shareholders’, most members are surprised to learn that PAII was not originally a non-profit.

So, what was the process?
-PAII submitted all of the required documents and has re-incorporated as a non-profit in the state of Wyoming. Wyoming was chosen as it is one of the lowest cost jurisdictions and corporation-friendly states for many national and international organizations and companies. Several other documents handled the move of all assets from the ‘old PAII’ to the ‘new PAII’ and completed the setup and formation.
-The filing and determination by the IRS of 501(c) status, as many who work with nonprofits will already know, often takes months to complete and receive, but will be retroactive to PAII’s re-incorporation date.
-The Distinguished Inns Alliance (DIA), the group of innkeepers and industry partners that purchased PAII from the founders in 2000, had been administratively dissolved.
-The for-profit PAII, incorporated in California, has also been dissolved.

All types of current and paid memberships remain valid, with access and benefits also remaining the same. Member dues will continue to be tax-deductible as a business expense as PAII is not a ‘charity’ but rather a professional organization/business league. As is required of non-profit corporations, some financial reporting becomes public record once filed.

The new non-profit PAII will operate as we have since 2015 (present administration), with the same staff, same board of directors, and the same commitment to education and advocacy on behalf of our members and the innkeeping industry.
Come celebrate your revitalized PAII with us in LAS VEGAS January 14-17, at the 2019 PAII Innkeeping Conference & Trade Show!
http://www.paii.com/

PAII's VISION

Lead the B&B industry into the future by embracing progressive changes in philosophy, operations, and technology; promote the success of innkeepers through education, networking, and advocacy;
assertively confront negative initiatives and deliver positive results. PAII DELIVERS.

108 South Cleveland Street, Merrill Wisconsin 54452-2435

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release PAII is now a NON-PROFIT Corporation here

News-ID: 1100828 • Views: 497