[Noisebridge-discuss] Question about 501(c)(3) status ....
Mitch Altman
maltman23 at hotmail.com
Tue Jan 17 05:03:01 UTC 2012
Because donations are tax deductible, that is a pretty strong incentive for more people to donate more.
Also, if you are not non-profit, then you are automatically for-profit, meaning that any donations are considered income, and you need to pay taxes on any money left over at the end of the year, since that is considered profit.
Mitch.
________________________________
> Date: Mon, 16 Jan 2012 17:16:45 -0800
> From: shannon at scatter.com
> To: pabutusa at gmail.com
> CC: noisebridge-discuss at lists.noisebridge.net
> Subject: Re: [Noisebridge-discuss] Question about 501(c)(3) status ....
>
> The benefits of being a 501c3 are, in no particular order:
>
> * It's a sign of being a "real" organization in the non-profit world,
> as opposed to just a bunch of guys doing a hobby. It means people take
> you rmore seriously.
> * Donations to the org are tax-deductable; this means that
> * Corporations that have policies about charitable donations can treat
> you as a charity and give you money and stuff
> * It makes it easier (possible!) to apply for grants for Cool Projects
>
> I'm probably leaving out some.
>
> --S
>
> On Mon, Jan 16, 2012 at 4:29 PM, Rob
> <pabutusa at gmail.commailto:pabutusa at gmail.com
> wrote:
> I'm part of a "newly rejuvenated" Amateur Radio group in New Jersey the
> "Penn-Jersey Amateur Radio Club"
>
> At a recent meeting someone brought up the topic of going for 501(c)(3)
> status ..... while it sounds interesting I'm not sure if it's worth the
> effort???
>
> What are the benefits ???? Why did NOISEBRIDGE do it ???
>
> Thanks,
>
> --> Rob Roschewsk (ka2pbt)
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>
>
> -- > Shannon Lee
> (503) 539-3700
>
> "Any sufficiently analyzed magic is indistinguishable from science."
>
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