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and another thing...

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Posted by: KRZ at Sun Oct 31 20:15:43 2010   [ Email Message ] [ Show All Posts by KRZ ]  
   

Being a non-profit is not simply how to handle the books.

There are a lot of hoops you have to jump through in order to be a non-profit- and they are not as simple as how you classify expenses or profits. Yes, non-profits make money, but the bulk of the profit goes into the business, not the owner.

Last year or the year before, I can't remember which, the tax returns for non profits changed and you now have to explain any very high paychecks. This was NA for us, but it is in response to some shady dealings that were going on with some non profits out there.

   

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