Can i make a small karate school non-profit.?

Question

and can i still make a living to support my family.

Answer 1

Yes.
Non-profit is just a clever way of saying there is no "black" at the end of the year.

The Salvation Army, The Red Cross, and even your churches are all deemed non-profit. But as Juiceman Jay would say "heres the beauty part of it".... They actually DO MAKE MONEY. See all you have to do at the end of the year to make your business non-profit is show a zero on the books (or a negative, which hopefully thats not the case). "How do you do this?" you might ask. You give yourself a raise. This is how the SA and RC do it. FYI, the CEO's of the RC and the SA pull in roughly 6 digits a year, then they get bonuses too (which is pulled from profits to help in claiming their NFP status).

** Soap Box Alert**
Pretty sad to think about some guy getting 400k a year or more and bonuses while working in a charity organization, meanwhile those people who suffered through Katrina got a lousy one time allotment of 400 dollars, with an additional 150 for each dependant with a max of 1200 total. People having 4 kids and no income now because of the destruction trying to survive on 1200 dollars for months. Anyways.......
**End Alert**

OR you re-invest it back into the business. This is actually the more popular method since a new business needs the boost in capitol, and it helps the business grow alot quicker and makes it more stable.

Answer 2

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have about the clothing industry as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* Starting and Running a Non-Profit Made Easy by Entrepreneur Press, David H. Bangs
* Starting and Running a Nonprofit Organization by Joan M. Hummel
* The Nonprofit Handbook: Everything You Need to Know to Start and Run Your Nonprofit Organization by Gary M. Grobman
* Starting & Building A Nonprofit: A Practical Guide by Peri Pakroo

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!