Starting a non profit association

Discussion in 'Starting a Business' started by claudiucet, Feb 5, 2013.

  1. claudiucet

    claudiucet
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    Hi,I am very new into this world(business world that is) ,and I do have a question,maybe my question itself will proove how new I am am into this world :).If I am the founder/CEO of the non profit association(for example sport association),it will be legal for me to be paid,have a salary?Any clue will be really appreciate it.
    Sincerely Claudiu
     
  2. PS9

    PS9
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    I run a non-profit and yes you can be paid, you can have a salary, but it has to be comparable to others in the same industry. Ex: You have a sports association and the average CEO in that industry makes 50,000 a year. You won't get away with being paid 500,000 a year.

    I will say, running and forming a for-profit business is far easier though. Why are you looking at non-profit? For many people it's simply so you don't pay taxes. If that's what you're out for, forget it... It's not going to work. You wouldn't get your 501c3 status from the IRS. Also know that there's buckets upon buckets of paperwork involved and from a legal perspective, it's not your business. You work for the business but no one owns it. You'll also have an exceedingly hard time if you need money because you can't give out shares for investments.
     
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  3. claudiucet

    claudiucet
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    Really appreciate your response,very clear and straight to the point!Thank you.
    Sincerely Claudiu Radulescu
     
  4. 2misi.com

    2misi.com
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    Absolutely you will get your fortune rewards, but it will only happens if you already reaching your accomplishment and awards.
     
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  5. claudiucet

    claudiucet
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    Thank you so much for your response.
     

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