Title
Allocate Sacramento Heritage, Inc. Nonprofit Corporation Remaining Funds to the California Preservation Foundation (M25-014)
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FileID
File ID: 2025-01562
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Location
Location: Citywide
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Recommendation
Recommendation: Adopt a Resolution authorizing the Interim City Manager or designee to: 1) close Sacramento Heritage, Inc.'s bank account at U.S. Bank; 2) transfer the $16,213.73 (or final liquidated amount) that remains in Sacramento Heritage, Inc.'s account at U.S. Bank to the California Preservation Foundation, a California 501(c)(3) tax-exempt nonprofit corporation; and 3) execute any agreements or documents necessary to facilitate the transfer of funds to California Preservation Foundation, subject to approval as to form by the City Attorney or designee.
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Contact
Contact: Sean de Courcy, Preservation Director, (916) 808-2796, sdecourcy@cityofsacramento.org, Community Development Department
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Presenter
Presenter: None
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Attachments
Attachments:
1-Description/Analysis
2-Resolution
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Description/Analysis
IssueDetail
Issue Detail: On November 15, 2022, the City Council adopted Resolution 2022-0344, which dissolved Sacramento Heritage, Inc. (SHI), a California 501(c)(3) tax-exempt nonprofit corporation, and repealed Resolution Nos. 1975-0307 and 1983-0193. Staff has initiated the process to dissolve SHI with the State of California following the California Attorney General's Office's guidance for dissolving a California nonprofit corporation, which require that remaining nonprofit assets be distributed to another 501(c)(3) tax-exempt organization with the same or similar charitable purpose as SHI and in accordance with SHI's articles of incorporation and by-laws.
The California Preservation Foundation (CPF), a California-based 501(c)(3) tax-exempt nonprofit organization with a mission aligned with SHI's charitable purposes, meets the legal requirements for receiving SHI's remaining assets. Staff recommends th...
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