Questions about Insurance/ Taxes

[RARunner91]

Hey everyone, I am going to start up a race in August, and I have done a good amount of research, and know pretty well how to handle most of it. A few things I'm not sure are some of the legal issues. After reading through the forums, I've come to the conclusion that you need liability insurance, and preferably D and O insurance. Also, my race is for a charity, so it will be non profit. That's why I was thinking of forming a "Running Club" for use by my race and apply for membership into the RRCA. After reading through their info on their site, it looks like doing this would take care of everything. You get liability insurance, D and O insurance, and can then apply to be tax exempt as part of RRCA.
So basically, this sounds too good to be true! Can someone confirm that I got my information correct, and this is all authentic? And would this provide all of the legal kind of things I would need for a race? Is there anything I am missing?
Thanks in advance for your help!

[jeff darman]

It is true.

[3CRacePro]

RRCA is the way to go, but you don't need to form a running club to join. You can join RRCA as an Event Member. That's what we did several years ago and it is one of the best decisions we ever made.

[RARunner91]

THanks for the help, I think I will do that.
Another question, in the application, you have to fill out address, phone numbers etc for the insurance. Would I put my personal contact info as the Race Director? Or would I make a corporation or club to represent the race itself, and get a mail address for it separately? (THis is what I meant to form in my first post)
Also, after the first running of the race, I wanted to start putting a small amount of the profit in a bank account as a reserve for years ahead. Could I make a bank account in the event's name and put money there, or would that infringe on my nonprofit status and get me in trouble?

[Trailrunnerdude]

The RRCA event member process enables you to incorporate as a non-profit. You need to have a race president or director and then that person't contact info can be submitted. You should also prepare some by-laws and minutes and assemble some race committee officers.

You absolutely can set up a bank account and leave some funds in it after the race is done. It would only 'infringe' the non-profit status if you were to start sharing the profits.