|William H. Magill on Sun, 13 Jul 2003 11:59:04 -0400|
On Saturday, July 12, 2003, at 01:15 PM, Barry Roomberg wrote:
On Saturday 12 July 2003 12:40 pm, Paul wrote:As Magnus pointed out, becoming an official non-profit organization
You forget the most important -- Non Profits must file all kinds of City, State and Federal tax returns, and those must be signed by the officers...
... translation -- PERSONAL LIABILITY for the actions of others over whom you may or may not have control.
Want to diffuse the liability, then incorporate... oops more paperwork and tax returns.
And more to the point -- being a non-profit does NOT mean that you don't have expenses to stay that way. That is why "good" non-profits are those who spend no more than 40% of their income on "overhead."
T.T.F.N. William H. Magill # Beige G3 - Rev A motherboard - 768 Meg # Flat-panel iMac (2.1) 800MHz - Super Drive - 768 Meg # PWS433a [Alpha 21164 Rev 7.2 (EV56)- 64 Meg]- Tru64 5.1a email@example.com firstname.lastname@example.org email@example.com
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