Timing and Key Events Leading to Purchase
- Purchase agreement signed by NSC
- Paid 1st $65k earnest money deposit
- Announced agreement through e-mail, website, Facebook & phone calls
- Complete due diligence
- Complete major fundraising effort
- Make 2nd $65k earnest money deposit
- If insufficient funds are raised, NSC intends to terminate agreement & return all donations
- Form new nonprofit
- File with IRS & and other agencies for tax exempt status
- NSC assigns the purchase rights to the new nonprofit
- New nonprofit Board selected
- Board holds initial meeting(s) to approve business plan & open bank account
- Closing of purchase by new nonprofit
- The Ark & The Dove operations commence
- Retreat staff are hired
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