Hi Anna,On the surface, your organizational model seems sound enough: 5 project leaders working cooperatively and independently of each other.
Permit me to ask a few questions:
In what country is your organization formed? If your founding country is the United States, have you filed the appropriate papers for incorporation?
Again if in the US, have you submitted a request to the IRS for recognition as a charitable organization?
Does your organization have a board? Do the five project managers comprise your board?
Do you have a set of by-laws? In your by-laws, do you describe how and when your governing board meets?
Do you describe how and to whom (or to what organization) your assets will be distributed if and when your organization dissolves?
Also, your state may require by law that your organization name a registered agent. This is the person who recieves all "official notice" (i.e. legal mail). Some states require a registered agent, some states "strongly suggest" that the organization have a registered agent.
Erring on the side of prudence, you might also want to have your books set up and audited by an American accounting firm.
Just some things for you to consider.
Carl
