[SCA-AE] Non-profits making a profit (was Re: Give Us Life (Memberships)! )

Rob Baldassano 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. 

--Eirik 
________________________________
Herre Eirik Haarfager Goransson / Rob Baldassano
Member, Barony of Endless Hills; 
Marshal - at Large & Deputy Baronial Marshal; 
House Odlahorde; 
Viking & All around Good Egg ; VROC #5029 (Tigger)
come visit http://www.dracowolf.com 
----------------------------
Come see our online store, now available at:
http://shop.dracowolf.com
===============



________________________________
<Snip>
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.

<snip>



      


More information about the Sca-aethelmearc mailing list