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    Liverpool folding and going "for profit"

    It's impossible for anyone to believe anything on here but here are the facts.

    1) Liverpool has enough money to last until November

    2) Rory and Sean intend to fold the club and reopen as a "for profit"

    3) Some of the directors have been informed of the intent

    Now, for the legal part.

    One cannot simply close a 501c3 and reopen. All assets belong to club and must be liquidated. Veos, balls, corner flags, etc...all must be sold off and new equipment purchased.

    This is shady and I'm sure this thread will be bumped down to try and hide the facts.

    #2
    So the kids will be without a place to play. The club was impacted by the legal struggles that started before Rory but it’s gotten so much worse. What a bad experience for the kids.

    Comment


      #3
      501(c)(3) organizations are required to have a "Dissolution Clause" in their Articles of Incorporation. An organization can't get around this; it's impossible to qualify as a 501(c)(3) without submitting the Articles as it's a part of the application process.

      This is the dissolution clause that the IRS recommends and every set of 501(c)(3) governing documents I've ever looked at contains this word for word.

      Upon the winding up and dissolution of the Corporation, the assets of the Corporation remaining after payment of, or provision for payment of, all debts and liabilities of the Corporation, shall be distributed to an organization or organizations, as determined by the Board of Directors, that are recognized as exempt under Section 501(c)(3) of the Code or any successor provision, and used exclusively to accomplish the purposes for which this Corporation is organized.

      They would need to go through the full dissolution process that the organization has agreed to in exchange for the privelege of operating as a tax-exempt organization for all of these years, and any new for-profit entity would have to start from scratch.

      Comment


        #4
        Also note that any agreements in place regarding fields access would become null and void with the dissolution, because the organization that agreed to them no longer exists.

        I don't believe anything I read on this forum, as I've seen things posted that are outright lies. But if this rumored taking-a-501(c)(3)-private scheme becomes a reality, the smartest thing the other clubs in the area would do is get in touch with Washington State Parks, the city, and the school district and take advantage of the void left by the Gunners' dissolution. Even if a new entity operates under the Gunners or LIFC name, they're not a "successor" organization and the 501(c)(3) dissolution clause makes that clear. Any contracts or agreements would have to be re-done, even if some of the signers are the same. And, some of the parties to those agreements might not be happy if someone tried to turn an agreement with a non-profit into an agreement with a for-profit and try to fly it under the radar.

        Comment


          #5
          Is this why the are asking parents to buy gym equipment, unloading the items early or they needed money that badly? Either way it's unfortunate.

          Comment


            #6
            Originally posted by Guest View Post
            It's impossible for anyone to believe anything on here but here are the facts.

            1) Liverpool has enough money to last until November

            2) Rory and Sean intend to fold the club and reopen as a "for profit"

            3) Some of the directors have been informed of the intent

            Now, for the legal part.

            One cannot simply close a 501c3 and reopen. All assets belong to club and must be liquidated. Veos, balls, corner flags, etc...all must be sold off and new equipment purchased.

            This is shady and I'm sure this thread will be bumped down to try and hide the facts.

            Who would want to work or play for Rory or a club that any of the LFC board members are on?

            Wherever you go there you are. If the problems seem to repeat itself then maybe it's not the place it's just Rory? Would Rory and Sean be trying to sabotage the club so they could turn profit? It seems the board would have stepped in at many points to stop the bleeding, unless it's intentional. Perhaps it could be the board are genuinely that unintelligent can't grasp how a board or a soccer club even runs and that the person they chose to led the club is a complete buffoon and pathological liar . Example of poor leadership, this weekend sending kids to games hours away knowing they will be annihilated because he cares more about having to pay fines and how he would look pulling the kids out. This is unfair to the players they face that hardship while the adults running the club cry about online posts. I can't see families running to sign up for Rory's new club after this season.

            Comment


              #7
              Originally posted by Guest View Post
              Is this why the are asking parents to buy gym equipment, unloading the items early or they needed money that badly? Either way it's unfortunate.
              I’m willing to bet they’ll sell off as much as possible, find a way to pay it to a few Directors as a “performance bonus” then dissolve. That’s how these con-artists bleed money off a 501c3 before it goes away.

              Comment


                #8
                https://projects.propublica.org/nonp...ions/911172224

                Comment


                  #9
                  Typical that LFC is bumping threads to try and bury this one.

                  Comment


                    #10
                    I guess 3rd times a charm, I am sure Rory can make it work for the next club. He has had time to work out the kinks.

                    Comment


                      #11
                      Folks we are not going away. Just the opposite, we are looking for the right person to take over our B12s, B11s, B10s, and B09s EA squads. Send a resume with your qualifications and we will get back to you!

                      Comment


                        #12
                        Originally posted by Guest View Post
                        Folks we are not going away. Just the opposite, we are looking for the right person to take over our B12s, B11s, B10s, and B09s EA squads. Send a resume with your qualifications and we will get back to you!
                        Hhahahahhaaahha

                        Comment


                          #13
                          Originally posted by Guest View Post
                          Folks we are not going away. Just the opposite, we are looking for the right person to take over our B12s, B11s, B10s, and B09s EA squads. Send a resume with your qualifications and we will get back to you!
                          No one will work for your sorry a** club that you have burnt to the floor. No current coaches from the idc days have stayed.. even the early Lfc days most coaches are gone. Just wait till the 07/06 Ea and 08 Ea play vs western surf. I heard that Lfc is forfeiting matches and forcing their players to pay a $1,000 fine for abandoning the match vs EW Surf

                          Comment


                            #14
                            Originally posted by Guest View Post

                            No one will work for your sorry a** club that you have burnt to the floor. No current coaches from the idc days have stayed.. even the early Lfc days most coaches are gone. Just wait till the 07/06 Ea and 08 Ea play vs western surf. I heard that Lfc is forfeiting matches and forcing their players to pay a $1,000 fine for abandoning the match vs EW Surf
                            The fine is 5,000 and the team will split.

                            Comment


                              #15
                              Originally posted by Guest View Post

                              No one will work for your sorry a** club that you have burnt to the floor. No current coaches from the idc days have stayed.. even the early Lfc days most coaches are gone. Just wait till the 07/06 Ea and 08 Ea play vs western surf. I heard that Lfc is forfeiting matches and forcing their players to pay a $1,000 fine for abandoning the match vs EW Surf
                              Don’t think that was the real Rory lol

                              Comment

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