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I want to raise funds for an orphanage?

I want to raise a fundraiser for a Drive-In that burned down. Can I keep 5% of all raised funds and be non-profit?

  • Go to http://savethedrivein.weebly.com and contribute to the cause. Also, to see what happened go to http://www.youtube.com/watch?v=Azjz8a77Iqg! P.S. I want an answer ASAP! Thanks!

  • Answer:

    You need to apply for non-profit status before hosting your fundraiser. Plus you need to cough up $400 for it. You are allowed to pay yourself out of the non-profit's funds, but I doubt you'll be able to get away with paying yourself on a percentage basis. You can pay a salary or stipend, but note that it's taxable income to you. For that matter, you're going to have a hard time justifying a nonprofit status if the drive-in itself is a profit-making enterprise. You can try to justify it as an educational or arts organization, but you'd better be prepared to back that up.

Tam2 at Amazon Askville Visit the source

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Thanks! Also, can I take, again 5% of a donation to support my website (not for a profit but rather upkeep)? In other words I'm going to use paypal to make donations but I have to pay a percentage of the donation to them if I'm not wrong.

Tam2

Paypal can take their cut as a percentage, yes. The problems come when it looks as if the company is being managed on a for-profit basis that benefit the owners. Salaries are acceptable, as are most of the things you pay for outside the company.

PamPerdue

Thanks! If I have any other probs I'll contact you via Askville!

Tam2

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