What is “Dissolution” all about?

In the June 3 issue of The Charlotte News, we reported that our application to the IRS for nonprofit, 501(c)3 status had been successful. This was a key step in efforts to simplify and improve our fundraising and financial management practices.

Earlier this year, as part of this process, the board of directors created a new organization, TCN, Inc. which is doing business as The Charlotte News. Now we’re embarking on the next steps that are required to wind down the two organizations that served us so well for many years.

Elsewhere on page 19 of the September 23 paper, you’ll see two “Notice to Creditors” advertisements. One is for “The Charlotte News” and the other for “Friends of The Charlotte News.” We are required to post these notices and then to honor any subsequent and valid claims from creditors. As far as we are aware, there are no outstanding claims; all of the two organizations’ bills have been paid in full.

It takes time and commitment to start a new organization and to wind down two others. Board member Vince Crockenberg, our lawyer Michael Russell, and our former treasurer Ted LeBlanc, have led this work. We are most grateful to them. Going forward, our new treasurer Margery McCracken will work with Mike to take this project to completion.

Rest assured, you’ll see no changes in our publication schedule. Aside from a two-week break during the holiday season, The Charlotte News will continue to arrive in your mail box every two weeks. Look for more coverage of town meetings as well as stories from some new community writers.

As always, everyone here at The News, appreciates your support. We couldn’t keep the presses running without our advertisers, volunteers, donors, staff and writers. Thank you all.