whats the upside to a non profit business - GoFuckYourself.com

scotty2hotty1111 · 08-20-2006, 05:21 PM

Hey what the upside to a nonprofit business im pretty sure its taxes but
what other goodies does it offer

detoxed · 08-20-2006, 06:33 PM

Well as an employee you get paid.......

Deputy Chief Command · 08-20-2006, 06:34 PM

an as an owner it seems you make no profit ? could be wrong though ;)

scotty2hotty1111 · 08-20-2006, 06:34 PM

oh didnt know that

scotty2hotty1111 · 08-20-2006, 06:36 PM

Quote:

Originally Posted by Deputy Chief Command

an as an owner it seems you make no profit ? could be wrong though ;)

im seeing alot of non profit christian dating site with adsense on them

Libertine · 08-20-2006, 06:37 PM

Quote:

Originally Posted by scotty2hotty1111

im seeming alot of non profit christian dating site with adsense on them

"Non profit" does not mean "no income".

Barefootsies · 08-20-2006, 06:40 PM

Quote:

Originally Posted by Libertine

"Non profit" does not mean "no income".

True dat. It means at them end of the year, there is not some obcene amount of cashola sitting in the bank.

Libertine · 08-20-2006, 06:49 PM

Quote:

Originally Posted by Barefootsies

True dat. It means at them end of the year, there is not some obcene amount of cashola sitting in the bank.

Well, IKEA is officially a non profit (the largest "charity" in the world, actually), and they have some fairly obscene amounts of money sitting in the bank.

http://www.economist.com/business/di...ory_id=6919139

The whole idea behind real non profits, though, is basically that all income goes toward furthering the stated cause of the charity, rather than toward furthering the wealth of the owners.

detoxed · 08-20-2006, 06:50 PM

Quote:

Originally Posted by Deputy Chief Command

an as an owner it seems you make no profit ? could be wrong though ;)

Yeah, as an owner. But what the fuck kind of idiot wouldnt employ themselves?

Nookster · 08-20-2006, 06:59 PM

Even though it's a "non profit" company you can still run advertising and marketing for other companies within the site. Being "non profit" doesn't always mean you can't make a profit from the business. It does mean though that you need to put a certain percentage of the profits back into the business.

Phil · 08-20-2006, 07:00 PM

ehh.. could it be THE Taxes??? well untill you get busted just like those church guys..

LiveDose · 08-20-2006, 07:03 PM

It's a great business tool.

scotty2hotty1111 · 08-20-2006, 07:05 PM

Quote:

Originally Posted by LiveDose

It's a great business tool.

its gotta be

aico · 08-20-2006, 07:07 PM

My sister is a VP of a non-profit company in Seattle, her salary is around $200,000.

scotty2hotty1111 · 08-20-2006, 07:10 PM

Quote:

Originally Posted by aico

My sister is a VP of a non-profit company in Seattle, her salary is around $200,000.

but on paper does the company break even

Webby · 08-20-2006, 07:26 PM

Quote:

Originally Posted by scotty2hotty1111

but on paper does the company break even

Sure.. has to break even else it's insolvent (and trading illegally)

Think ya need to check the wording of what qualifies as "non profit" - else, screw all that and operate offshore (and no taxes anyway).

BusterBunny · 08-20-2006, 07:27 PM

deductions

DaddyHalbucks · 08-20-2006, 09:27 PM

Look at that charity that has all the kettles at Christmas time. They rake in $100 million dollars every year.. just from the kettles!! They are set up as a church, so their finances are completely private. They do anything they want. They have funded the legal defenses of numerous accused child molesters (their ministers), and people don't even realize it..

scottybuzz · 08-20-2006, 10:32 PM

hmmmmmmmmmmmmmmmmmmmmmmmmm

GigoloMason · 08-21-2006, 12:38 AM

Some nonprofit corporations qualify for a federal tax exemption under sec 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

Beyond that the only (real) difference between non-profit orgainzations and other corp structures is that non profit companies can't pay out dividends. This basically means owners "salary" themselves rather then distribute earnings. Whoopie.

2HousePlague · 08-21-2006, 12:54 AM

Maybe just a special feeling at the end of the day.

2hp

Libertine · 08-21-2006, 12:56 AM

Quote:

Originally Posted by GigoloMason

Some nonprofit corporations qualify for a federal tax exemption under sec 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

Beyond that the only (real) difference between non-profit orgainzations and other corp structures is that non profit companies can't pay out dividends. This basically means owners "salary" themselves rather then distribute earnings. Whoopie.

Another rather real difference is selling the business

MrMaxwell · 08-21-2006, 12:58 AM

Not for profit can be amazing

GigoloMason · 08-21-2006, 01:03 AM

Quote:

Originally Posted by Libertine

Another rather real difference is selling the business

Very true

Trying to simplify, as exit strategies can get complicated as it is.

free4porn · 08-21-2006, 04:28 AM

profit business are the best

godisdead · 08-21-2006, 04:45 AM

Quote:

Originally Posted by aico

My sister is a VP of a non-profit company in Seattle, her salary is around $200,000.

That's what pisses me off about non-profits. "Oh, we don't make profits.", which basically means that their ideal is to be so useless that nobody is willing to pay for what they do. They just demand charity money by pushing you into their scheme with guilt and then pay themselves large salaries with it. Just look at all the professional save-nature and save-the-animals activists. They make a ton of money with what they do. And they get it all from someone who stupidly believes that this money he donates is used to promote the cause. Instead he pays for a nice house for some activist.

But sometimes the money is also just channeled to finance militant groups.

http://www.activistcash.com/

08-20-2006, 05:21 PM	#1
scotty2hotty1111 Confirmed User Join Date: Apr 2006 Location: sacramento Posts: 1,113	whats the upside to a non profit business Hey what the upside to a nonprofit business im pretty sure its taxes but what other goodies does it offer __________________ ICQ - 278931233 Giving up is just NOT an option

08-20-2006, 06:34 PM	#3
Deputy Chief Command Deputy Chief Command Industry Role: Join Date: Nov 2005 Posts: 4,482	an as an owner it seems you make no profit ? could be wrong though ;) __________________

08-20-2006, 06:34 PM	#4
scotty2hotty1111 Confirmed User Join Date: Apr 2006 Location: sacramento Posts: 1,113	oh didnt know that __________________ ICQ - 278931233 Giving up is just NOT an option

08-20-2006, 06:59 PM	#10
Nookster Confirmed IT Professional Industry Role: Join Date: Nov 2005 Location: Hollywood, CA Posts: 3,744	Even though it's a "non profit" company you can still run advertising and marketing for other companies within the site. Being "non profit" doesn't always mean you can't make a profit from the business. It does mean though that you need to put a certain percentage of the profits back into the business. __________________ The Best Affiliate Software, Ever.

08-20-2006, 07:00 PM	#11
Phil Confirmed User Join Date: Jan 2004 Posts: 7,659	ehh.. could it be THE Taxes??? well untill you get busted just like those church guys.. __________________ Ask Phil

08-20-2006, 06:33 PM	#2
detoxed vip member Join Date: Jan 2003 Posts: 17,798	Well as an employee you get paid.......

08-20-2006, 07:03 PM	#12
LiveDose Show Yer Tits! Industry Role: Join Date: Feb 2002 Location: Somewhere Out there... Posts: 25,792	It's a great business tool. __________________ Scammer Alert: acer19 acer [email protected] [email protected] Money stolen using PayPal

08-20-2006, 07:07 PM	#14
aico Moo Moo Cow Join Date: Mar 2004 Location: Washington State Posts: 14,748	My sister is a VP of a non-profit company in Seattle, her salary is around $200,000.

08-20-2006, 07:27 PM	#17
BusterBunny perverted justice decoy Join Date: Aug 2005 Location: unborn still in the womb connected via blackberry Posts: 19,291	deductions __________________ my sig caught gonoherpasyphilaids and died

08-20-2006, 09:27 PM	#18
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Look at that charity that has all the kettles at Christmas time. They rake in $100 million dollars every year.. just from the kettles!! They are set up as a church, so their finances are completely private. They do anything they want. They have funded the legal defenses of numerous accused child molesters (their ministers), and people don't even realize it.. __________________ Boner Money

08-20-2006, 10:32 PM	#19
scottybuzz Too lazy to set a custom title Industry Role: Join Date: May 2006 Location: NY Posts: 14,800	hmmmmmmmmmmmmmmmmmmmmmmmmm __________________ $$$$$ MAKE HUGE MONEY IN CAMS - CLICK HERE $$$$$

08-21-2006, 12:38 AM	#20
GigoloMason Confirmed User Join Date: May 2005 Posts: 742	Some nonprofit corporations qualify for a federal tax exemption under sec 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors. Beyond that the only (real) difference between non-profit orgainzations and other corp structures is that non profit companies can't pay out dividends. This basically means owners "salary" themselves rather then distribute earnings. Whoopie. __________________

08-21-2006, 12:54 AM	#21
2HousePlague CURATOR Join Date: Jul 2004 Location: the attic Posts: 14,572	Maybe just a special feeling at the end of the day. 2hp __________________ tada!

08-21-2006, 12:58 AM	#23
MrMaxwell Too lazy to set a custom title Industry Role: Join Date: Jul 2005 Posts: 10,057	Not for profit can be amazing

08-21-2006, 04:28 AM	#25
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