[SCA-AE] Non-profits making a profit (was Re: Give Us Life (Memberships)! )
odlahorde at yahoo.com
Thu Jan 8 10:05:36 EST 2009
OK, I have had a number of conversations with lawyers, judges, and professional CPAs.
In all of those discussions, all of them said "there is no law against a non-profit making a profit, it's about how the money is spent that they do make".
Granted that the judge was not a financial wizard, but the estate planner lawyer, and the CPAs I would have to agree understand the laws as it pertains to money.
It HAS been the stance of the SCA to be careful with how we use the money that we have, as we can get in trouble if we are not careful, but this does not mean that we can't make money.
However, in today's economy, I would stay clear of obvious risks, such as the stock market.
A simple way to have the society make SOME money, if we don't already employ this at the corporate level, is to make sure that our savings accounts are interest earning accounts.
As for investments / funds to make the society's money grow...
I would recommend that we have corporate talk to a financial advisor, so that we do it right.
Herre Eirik Haarfager Goransson / Rob Baldassano
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Investing as a non-profit can be tricky. You're probably talking Endowment
to avoid the whole "profit" thing. If you mess up, you're going to blow
your whole NP status.
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