AHFS details

[Chuck Norton]

Originally Posted by Greg Hill

Chuck, if making money is their sole reason for being in businees , how do they keep their non profit status? I have been on a couple of non profit boards over the years and members always elected the board. I believe NHRA is still operating under their original charter from back inn the 50's. I wonder if the IRS has had a look lately? What about the for profit corporations owned by NHRA? Whose money got invested in those? I guess my whole point is that if the management owns NHRA they stole it.

Q1. how do they keep their non profit status?
A1. Hell, I'm just a retired school teacher. Ask Julie Jordan. She's an accountant and more informed in these things. All I know is that they've had good legal minds on the staff for many years and no one has been able to break down the walls even though it's been tried.

Q2. I wonder if the IRS has had a look lately?
A2. I doubt it. They're too busy questioning my racing expenses.

Statement 1. I guess my whole point is that if the management owns NHRA they stole it.
Response 1. No comment. See A1.

c

[RPinoski1]

Any news on the interpretation of the "New AHFS Rule" or is it as now written?