Difference between revisions of "Not for Profit"
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A not-for-profit (also called ''nonprofit'') [[organization]] is one set up so that no profits from its operation go to private individuals. Most [[SF clubs]] and [[SF cons]] are organized this way, either officially or practically. In the [[US]], nonprofit corporations are chartered by the states. ([[501(c)(3)]] status can be granted to a nonprofit corporation by the IRS.) | A not-for-profit (also called ''nonprofit'') [[organization]] is one set up so that no profits from its operation go to private individuals. Most [[SF clubs]] and [[SF cons]] are organized this way, either officially or practically. In the [[US]], nonprofit corporations are chartered by the states. ([[501(c)(3)]] status can be granted to a nonprofit corporation by the IRS.) | ||
| − | Note that [[fannish]] [[conventions]] are not just Not-for-Profit, but don't pay the organizers or volunteers ''anything'' other than (sometimes) reimbursing their out-of-pocket costs and [[membership refunds|membership fees]]. [[UK]] [[cons]] issue token [[groats]]. | + | Note that [[fannish]] [[conventions]] are not just Not-for-Profit, but don't pay the organizers or volunteers ''anything'' other than (sometimes) reimbursing their out-of-pocket costs and [[membership refunds|membership fees]]. [[UK]] [[cons]] are an exception in that they issue token [[groats]]. |
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Latest revision as of 05:38, 28 December 2020
A not-for-profit (also called nonprofit) organization is one set up so that no profits from its operation go to private individuals. Most SF clubs and SF cons are organized this way, either officially or practically. In the United States, nonprofit corporations are chartered by the states. (501(c)(3) status can be granted to a nonprofit corporation by the IRS.)
Note that fannish conventions are not just Not-for-Profit, but don't pay the organizers or volunteers anything other than (sometimes) reimbursing their out-of-pocket costs and membership fees. UK cons are an exception in that they issue token groats.
