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Your association tax attorney and association-savvy attorney can help you answer your question. It may depend on where you earn your profits.
If, for example, the association owned a club house and pool, and rented it -- for a profit -- there would be issues to be considered.
If, as another example, the association wanted to purchase the coffee cart on the corner, that would have an entirely separate set of connotations.
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What may nonprofit organizations do?
Designation as a nonprofit does not mean that the organization does not intend to make a profit. The nonprofit may also be a trust or association of members.
What is a nonprofit organizations purpose?
The purpose of a non profit will be different for every non profit.
Can a nonprofit give money to a for profit organization?
Can a nonprofit foundation give money to a for profit organization
Is Black and Decker a nonprofit or profit?
for profit.
Is YMCA an example of a non-profitable organization?
Yes, YMCA (Young Men's Christian Association) is a nonprofit organization which headquarter is located at Geneva, Switzerland.
What is a synonym for nonprofit?
Not for profit
How do nonprofit agencies receive their funding?
Nonprofit organizations may receive funding from sponsorship, donations, or reimbursement for services. The designation "nonprofit" doesn't mean that the organization doesn't charge for services, but only that any resulting profit (the difference between income and expenses) is used within the agency to further its mission. For instance, both for-profit and non-profit hospitals charge for services, but non-profit hospitals don't distribute profits to owners or shareholders.
What is an unincorporated association of two or more persons to carry on a business for profit as co owners?
Partnership
What is an unincorporated association of two or more persons to carry on a business for profit as co-owners?
Partnership
Where would you find grants for a Florida Home Owners Association?
Although your association may be a valid Florida non-profit corporation, grants are not generally a source of income. Association income is based on assessments paid by owners.
Is macdonalds a for-profit or Non-Profit or Not-for-profit organization?
McDonald's is a for profit company. It is not a nonprofit or a not for profit, which are synonyms.
Can a for profit business own a nonprofit?
no
