When starting a non profit organization, how do I make a profit?

Question

Obviously, thats not the reason I am starting it...but I also need to make something...

I want to start sort of like a YMCA, but I want it to be more involved....instead of just having a gym and a pool!

Answer 1

So you want to run a day care center. Basically. You may be able to set up a day care that is non-profit but you will need to research it carefully. And most communities have a non-profit, sliding scale fee day care that is available. Do a needs assesment first, see if this will stay afloat. If it would then start looking for a borad and gathering all you will need to start. You may not make much for the first few years-you will serve a need in the community though and that is the real reason to do a non-profit.

Answer 2

I believe you need to have a board of directors for a non-profit, and that board determines what your salary as chairman is. It is the same as any business except you determine your salary to begin with and the rest goes back into the business instead of into your pocket. It's possible also that for a non-profit this information has to be public but I'm not sure. You might find some resources on: www.sba.gov

Answer 3

You don't make a profit. Non profit is indicative of that. Any profits rec'd from fund raising etc. are not actually profits. IE: the money goes to rent or upgrading eqpt etc. When filing Tax. Ensure you have accounted for where every penny went. and that none of it went in your pocket.....do this and you'll thank me if you ever get audited.