Quote:
Originally Posted by cicero819
Non Profit Organization: Surprisingly, there is no legal defination of a non Profit organization. In general, a non profit organization is one that is organized to achieve a purpose other than generating a profit. Despite this, a N.P.O is not precluded from making a profit or engaging in profit-making activities. It is prohibited from passing along any profits to those individual who control it, like founders, directors, officers, employees and members. Nothing, however, prevents a N.P.O from paying reasonable salaries to officers, employees, and others who perform a service for it. All this information is available on the IRS tax code section 501(c)(3). Certain NPO that are exempt from Federal Corporate Income taxes must show to keep their exemption documentation that their not engaging in any political, legislative or entertaining activities. In California it's Illegal for any employees to derive a higher rate of pay than a comparable for profit organization of the same financial volume. You must remember the tricky word in this which is (reasonable). Gross revenu= reasonable salaries. Compton might get away with it but not the rest of the Directors. These guys have alot of to explain, without even considering that most of it's voting member were never asked to have a say in it's operation. I've been after NHRA to show me were and when we gaved them our voting rights to them to do whatever they wanted to do with them, and they never did. I do not want the IRS to put their nose under our tent because when they do move in for the audit, it could damage NHRA to the point of total destruction. CR
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CR,
With all due respect, you're kidding right? NHRA has been on the path of self destruction all on it's own. In fairness most sporting venues are pricing themselves out of business but this is suppose to be something other than a business, or at least that's what a vast majority of the people on here believe.
Forget about the ever rising fees, the insurance, the puinitive damages for riding your unregistered scooter.
Need I say more?