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-   -   Another failure to lead - John Asher editorial (https://classracer.com/classforum/showthread.php?t=76112)

Mike Jones 04-30-2020 07:41 PM
Re: Another failure to lead - John Asher editorial
 
Quote:
Originally Posted by Julie Jordan (Post 613637)
The main restriction is that profits must be used for the organization's work and that no profits can be distributed to members.
Does the distribution include the win and round money purse structure?
Mike A114

Quo Pro Joe 04-30-2020 07:50 PM
Re: Another failure to lead - John Asher editorial
 
How long can a non-profit survive if there are no profits at all?

KRatcliff 04-30-2020 08:18 PM
Re: Another failure to lead - John Asher editorial
 
Quote:
Originally Posted by Quo Pro Joe (Post 613659)
How long can a non-profit survive if there are no profits at all?
The "non-profit" status of the NHRA is more of a tax dodge than simply not being profitable. You can see from their published filings that in most cases their revenue is greater than their expenses.

J.R. Haddad 04-30-2020 08:26 PM
Re: Another failure to lead - John Asher editorial
 
Seeing as most of their members are racers, I would say they are doing a good job of not distributing any of the profits to their members.::

Quo Pro Joe 04-30-2020 08:29 PM
Re: Another failure to lead - John Asher editorial
 
Quote:
Originally Posted by KRatcliff (Post 613660)
The "non-profit" status of the NHRA is more of a tax dodge than simply not being profitable. You can see from their published filings that in most cases their revenue is greater than their expenses.
IS greater or WAS greater?

KRatcliff 04-30-2020 08:41 PM
Re: Another failure to lead - John Asher editorial
 
Quote:
Originally Posted by Quo Pro Joe (Post 613662)
IS greater or WAS greater?
I have not seen their latest filing, but I wouldn't be surprised to see that their revenue is still greater than their expenses. A non profit organizational status can have net revenues or "profits" and often do as a long term entity. They are not taxed on those net revenues or profits like C or S corporation for example.

BobbyH 05-01-2020 02:00 PM
Re: Another failure to lead - John Asher editorial
 
Quote:
Originally Posted by CMcAllister (Post 613433)
Surprised I haven't seen this mentioned. So here it is. Hard to argue with.

http://www.competitionplus.com/drag-...ailure-to-lead
As usual,a ship without a Captain.Wally is rolling in his grave.....God help us all...


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