Again cut and pasted off of a link from the George Washington School Of Business :
................However, a nonprofit corporation is not prohibited from making a profit, but there are limitations on what it can do with its profits. There also are limitations on how it can make money. For example, if a nonprofit corporation engages in profit-making activities unrelated to its recognized nonprofit purpose, it must set up a separate corporation to engage in that activity or risk losing its nonprofit, or tax exempt, status................
The second line has me wondering :
>> For example, if a nonprofit corporation engages in profit-making activities unrelated to its recognized nonprofit purpose, it must set up a separate corporation to engage in that activity or risk losing its nonprofit, or tax exempt, status................<<
Will this make it harder to invest the 100 Mil. than I thought ? Or will they just set up more Corp's ?
There have been a few fairly official sounding posts on the 501c conversation here. Unless the person posting is a CPA, or has an MBA, it would be great if you could back up your posts with cut and paste's off of official links, so we know the information is correct. As I've started doing.
It's been fun, but I got to go to work and make some profit now. WHOOPS, sorry, net earnings. lol
Later
Mike ( madness & ) Mayhem
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