Can anyone explain NHRA?

[bill dedman]

Thanks, Julie.
This is in no way a reference to NHRA, but from what you described, it (non-profits) sounds like a license to steal.

Just my 2-cents...


Bill

[Ed Fernandez]

Originally Posted by bill dedman

Thanks, Julie.
This is in no way a reference to NHRA, but from what you described, it (non-profits) sounds like a license to steal.

Just my 2-cents...


Bill

Bill
Google "list of non profit organizations" then take your foot out of your mouth.There are a few I don't agree with (ACLU for example) but there are MANY that do alot of good for people here and around the world.
One is the Paralyzed Vets of America.I've given to them in memory of my father in law who eventually became blind due to an injury during the Battle of the Bulge in Belgium.They sent him book cassettes
which helped him to cope.
Research something before you tap the keys on your computer.



Ed F.

Eed F.

[Bruce Noland]

Bill,
There is a common sense formula that the IRS uses to monitor the payroll of non profit, not-for-profit organizations. Some of these organizations have been in trouble recently for over payment to executives. Every year articles pop up in the DC papers about the IRS busting some of these corporations masqurading as a tax exempt organization. They busted one former big time political figure last year for running one out of her house with her children on the payroll. It just depends if the IRS gets around to looking into any specific "organization". If an organization survives an IRS audit then they are good. That's the only way to know for sure. Some of these organizations start out on firm ground but end up on the slippery slope because of mismanagement or by simply out living their intended purpose. Times change!

Ed,
I think Bill was referring to some of the border line tax exempt organizations. There are thousands of tax exempt organizations. The majority of them are doing great work.

[bill dedman]

Thanks, Bruce. That is precisely the sort of thing I had reference to. I am sure that the majority of tax-exempt organizations are well-meaning, useful companies, that have their tax-exempt status rooted in services that benefit deserving factions of society who might not be self-sustaining for one reason or another, using conventional business practices.

What I was referreing to was the loose, seemingly laissez-faire structure of the rules governing the top-level compensation that would seem to make it possible for anyone to form a "not--for-profit" business and eventually pay themselves a salary that was in no way commensurate with the work they do.

The way Julie described it, there seems to be little in the way of governmental oversight for riding herd on people like Tom ($700,000.00-a-year) Compton and his little buddy, Graham Light, who's been listed as a "part-time" employee" making almost half that.

Those are the kind of situations I had reference to; I should have made that clear. My apologies to anyone who was offended by my comment, but, I stand by what I said; if these bozos can milk that much $$$ out of an organization that basically is just a "Hot Rod Club", with no governmental oversight/regulation or input from the organization's members, then yes, these situations do sound like a "license to steal." At least, to me. Bruce did add some useful information that demonstrated that what I described is not always true, but they must not have gotten around to NHRA, yet...

I just can't think of a nicer way to put it. Looks for all the world to me, like a "license to steal."

Bill

[Jim Wahl]

Well said Bruce and Bill! Jim