2007-01-07 07:44:52 · 2 answers · asked by Anonymous in Business & Finance ➔ Small Business
I don't think so. I think you are presumed to be operating "for profit" until you apply for "not-for-profit" status and license.
Everything you get from fund raising will be considered income without this status.
2007-01-07 07:47:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
if you get caught you would be in a world of hurt. I just took a non profit grant wrting course from the feds.
got the laws out my ears. not only would you get in trouble because if you want people to dontate you must give them a reciept for thier taxes when they try to claim it you are in big trouble. go to the www.irs.gov to learn more.
it is a felony btw. if someone from a non profit hires you to coordinate they have to show your work as in kind support or paid and they to must keep records.
2007-01-07 07:51:01 · answer #2 · answered by CCC 6 · 0⤊ 0⤋