Lisa and the Law

Should a non-profit really be non-profit?

If you are operating a non-profit organization, you SHOULD be making a profit, but you SHOULD NOT use it for anything other than the charitable mission of your organization. Sadly, most non-profit organizations are not rolling in the dough for a lot of reasons and also the nature of charitable work and giving. However, you should strive to make a profit so you may use it further fund your organization. As with anything tax-related and especially with non-profit organizations, consult with a qualified tax professional on any new profit-making ideas or new fundraising programs so you do not run afoul of the IRS guidelines for your organization’s tax-exempt status and lose it.