Not-for-profit status

Kenneth P. Eschete <k-eschete [at] nwu__edu> writes

>Is it possible for a non-profit institution to raise revenue by
>performing conservation treatments for other institutions, without
>threatening the non-profit status? 

My accountant's advice in a nutshell was: "You can't take any 
"profit" out of a not-for-profit (please note the more correct term) 
business." 

A not-for-profit gallery, charity, or other corporation must bring 
in money to survive. The real practical question is how the incoming 
money is distributed. I'm sure you'll get excellent advice from your 
own accountant; it's worth the call to set up the system properly.

Jerry Shiner
Keepsafe Systems & Forever Yours Bridal Gown Preservation


                                  ***
                  Conservation DistList Instance 13:35
                 Distributed: Friday, December 17, 1999
                       Message Id: cdl-13-35-005
                                  ***