[ZF] Why is non-profit status important?

[Jens Vagelpohl]

On Feb 10, 2012, at 15:14 , Jim Fulton wrote:

> Aroldo's note prompts me to ask:
> Why is non-profit status so important?
> 
> Do we think the amount of contributions would be substantially
> different if the Foundation was non-profit? I'm skeptical.
> 
> Given that the board members are all busy, pursuing non-profit
> status seems like a waste of time.

One point that no one has brought up: 

Even with today's paltry sponsor income for which we'd never pay any taxes even as a for-profit the first few years were very profitable. All of that high income was taxed based on the assumption that the non-profit application process is running and will be finished. I fear that if the application was given up completely and the foundation gets an "official" for-profit status we'd be faced with a hefty tax bill from the IRS for that early income.

jens


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