DEFAULT IS NOT IN OUR STARS, BUT IN OURSELVES: Part 18 — Solving The Insolvency Riddle: Bay City State Theatre Will Need Michigan Attorney General’s Approval To Dissolve Nonprofit

So you can’t just pack up your Michigan nonprofit wagon and leave in the middle of the night.

According to this Michigan law, if you choose to close down a Michigan nonprofit corporation, you’ll need to go through a process called dissolution.

Dissolution requires a vote or other formal authorization, the filing of key documents with government agencies, and a group of other tasks collectively known as winding up the corporation.

According to Michigan’s official “Dissolution Questionnaire”, “all Michigan nonprofit organizations must obtain a letter from the Attorney General” to obtain the required certification from Michigan’s Department of Licensing and Regulatory Affairs (LARA) Corporations Divisions.

And the form asks for IRS Form 990 reports for “the last three periods”.

As reported here, the State Theatre last produced an IRS Form 990 report for the fiscal year ending December 31, 2020.

Oops!

Bacigalupo was the longtime President of the Bay Arts Council, which filed for dissolution in late 2022.