How can one start a non-profit business to live off of as sole means of income if a non-profit is not intended to make money?
The answers are great.
However, I think what I'm asking (in a more deeper sense) is...if the intention is not to make money, then how can I as the founder make money from the start?
- JudyLv 72 months ago
Why not start a for-profit business instead, and avoid the problems? Even if you qualify as a non-profit, you'f still be taxed on your salary. You didn't think that was tax-free, did you?
- StephenWeinsteinLv 72 months ago
One cannot. If one tries, then it is not a non-profit.
- EvaLv 72 months ago
You can't form a non-profit to provide benefits to one person. Just because the business is a non-profit doesn't mean it can't make money. It of course has to make some money in order to pay it's overhead and to fund it's non-profit mission. One can be paid a reasonable salary, but that salary must be set by the non-profit's board of directors.
- danxp2Lv 62 months ago
Non-profit does not equal no income. You pay yourself as an exec of the non-profit and can have the non-profit break even if you must. Non-profit can have a cash reserve as well.
Look at a health care business like Kaiser Permanente, or any church with a pastor to see how to support yourself with a non-profit.
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- Barkley HoundLv 72 months ago
The business does not make a profit but it can pay you a salary to run it.