Another failure to lead - John Asher editorial

[Mike Jones]

Originally Posted by Julie Jordan

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]

How long can a non-profit survive if there are no profits at all?

[KRatcliff]

Originally Posted by Quo Pro Joe

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]

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]

Originally Posted by KRatcliff

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]

Originally Posted by Quo Pro Joe

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]

Originally Posted by CMcAllister

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...