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Get Directions to Non Profit Youth Sports OrganizationsMesquite Local Weather
Non Profit Youth Sports Organizations
Kathi Judkins
3729 Byrd Drive
Mesquite, Texas
75150
 
  Discussion Topics: So exactly what is a Non Profit?  
 

So exactly what is a Non Profit?
A "For Profit" activity is a business operation selling goods or services with the intent to make a profit that it pays out to the owner(s) of the business. It may lose money from time to time but it is still a "For Profit" business.

A "Non Profit" activity certainly can make a profit from selling goods or services to supplement donation funds. The difference is there is no INTENT to put that profit into an owner(s) pocket. The intent is to use those funds to accomplish a documented and charitable purpose.

Non Profits also are not owned by anyone. They function with a Board of Directors making the decisions. If and when a Non Profit ends its existence, any cash balances or items the entity owns must be passed on to another Non Profit group. (Note that wording to this effect is required to be in your By Laws!)

So does that mean a Non Profit can't pay the people who do the work for it? Sometimes they can and sometimes they can't. Stay tuned for a more detailed discussion on that subject!

What about this documented purpose? Are there limitations on that? Yes there are and a more detailed discussion on this will follow as well.



****************DISCLAIMER****************
The author is a CPA but not an attorney and is not qualified to render legal services. Check with an attorney to verify the correct information for your state.
   
Non Profit Youth Sports Organizations
Non Profit Youth Sports Organizations
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