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

[Ireland-delfs, Orilee]

Corporate has a financial advisor and has already been ensuring that the
funds held at Corporate are handled, tracked, and invested properly.

If you are truly interested in this, I would strongly recommend
subscribing to the Board reports and minutes, and when possible
attending Board meetings.

And you are correct - the SCA can make money.  How and who it spends it
on is what is important to maintain the not-for-profit status.

Orianna
-----Original Message-----
From:
sca-aethelmearc-bounces+orilee.ireland-delfs=xerox.com at lists.andrew.cmu.
edu
[mailto:sca-aethelmearc-bounces+orilee.ireland-delfs=xerox.com at lists.and
rew.cmu.edu] On Behalf Of Rob Baldassano
Sent: Thursday, January 08, 2009 10:06 AM
To: discussion at aethelmearc.org
Subject: [SCA-AE] Non-profits making a profit (was Re: Give Us
Life(Memberships)! )

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>



      
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