Marvel at the beauty of Michael Moore's 10,000 sq ft summer mansion!

it's puzzling that one thinks "non-profit" is a misnomer.

if the organization is "non-profit"... then how does one expect it to finance itself? of course they are allowed to raise money such as selling tshirts, books, tickets, etc. as long as it's related to organization.

they are not allowed to make profits from activities unrelated to organization.

"raising money"
"making a profit"
 
attention everybody - don't bother replying. there's no reasoning with this buffoon. why bother?
 
DaveM said:
It is absolutely beautiful!

Editorials | Hypocrisy of Michael Moore's opulent home | The Detroit News

Do you figure it was paid for by 1 million dollar tax credit he got from Michigan taxpayers on his last film? Or maybe it was the Halliburton stock he made a fortune from through his personal charity.

Either way, it's gorgeous.
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btw DaveM - I just thought of something.

Do you happen to know if Michael Moore has an office... or a commercial place for his employees and also to do his film works or whatever?
 
Jiro said:
btw DaveM - I just thought of something.

Do you happen to know if Michael Moore has an office... or a commercial place for his employees and also to do his film works or whatever?
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That would also be assets. The howls of Conservatives can even be heard by most members of AD. "How can a Liberal have wealth? Why haven't they given it all away and moved to OWS camp? Why aren't they offering the government extra tax money?"
 
DeafCaroline said:
You clearly have no idea what the 1% is.

Not going to bother responding to you anymore. It's pointless.
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I've already pointed it out before... the wealthiest 1% versus the rest of the population. I've included before in this thread a link show where your income earning stands in relation to the rest.
What Percent Are You? - Real Time Economics - WSJ

It revolves around the money disparity between the "have and have nots" and other shady dealings and practices between govt and companies, although they wrongly go after the wrong group, Wall Street, when it should've been called "Congress Occupiers."

I've no idea? LOL.

BTW, the 99% would also have to include Tea Party supporters, too.

*shrugs*
 
jillio said:
Ads by Google?:laugh2:

Yeah, you go ahead and file a tax return for a non-profit without showing a zero balance through funds remaining on the books instead of using those funds to go back into the organization to acheive goals and see how that works out for you.:laugh2:
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I've done it

Can a nonprofit make a profit?
Operating any organization at a deficit or without a sufficient "rainy day" fund is not good business. In order to maintain the viability of any organization, it is important to operate with some "net revenue" at the end of a year. What distinguishes nonprofits is not whether they can make a profit, but what happens to profits. Nonprofits are prohibited from distributing profits in the same way for-profit corporations can. All revenue must be earmarked for the organization's mission.
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All About Nonprofits

Nonprofit organization (abbreviated as NPO) is neither a legal or technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends. States in the United States defer to the IRS designation conferred under United States Internal Revenue Code Section 501(c), when the IRS deems an organization eligible. They may or may not have shareholders. [1]

While Not-for-profit organizations are permitted to generate surplus revenues they must be retained by the organization for its self-preservation, expansion, or plans.[2] NPOs have controlling members or boards. Many have paid staff including management, while others employ unpaid volunteers and even executives who work without compensation (or that work for a token fee, such as $10 per year).[3] Where there is a token fee, in general, it is used to meet legal requirements for establishing a contract between the executive and the organization
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Nonprofit organization - Wikipedia, the free encyclopedia

http://www.irs.gov/pub/irs-soi/07ubitaxsnap.pdf

Highlights of the Data
• Nonprofit charities exempt under 501(c)(3) represent the vast majority of organizations, and account for the bulk
of the financial activity for the tax-exempt sector.
• For Tax Year 2007, over 313,000 charities exempt under section 501(c)(3) filed Forms 990 with the IRS.
• These organizations reported nearly $2.7 trillion in assets and over $1.4 trillion in revenue for 2007.• Large hospitals and universities dominated the financial activity of the nonprofit charitable sector. In fact, nine of
the ten largest organizations (measured by assets) were hospitals or university-affiliated organizations.
• Large organizations received the majority of their revenue from program services. Smaller organization relied on
contributions, gifts, and grants as their primary source of revenue.
• The nonprofit sector has grown steadily and significantly over the years that SOI has conducted studies. Total
expenses reported by nonprofits showed a cumulative real growth of 118 percent between Tax Years 1985 and
2007. Over the same period, cumulative growth in GDP measured 67 percent.
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Top Ten Nonprofit Charitable Organizations, by Size of Total Assets, Tax Year 2007*
Assets (in billions of dollars)
1. President & Fellows of Harvard College................ 63.6 6. Princeton University....................................... 18.4
2. Yale University....................................................... 30.8 7. Harvard Management Private Equity Corp.... 14.9
3. Stanford University................................................. 26.7 8. Massachusetts Institute of Technology........... 15.4
4. Howard Hughes Medical Institute.......................... 21.6 9. The Common Fund for Nonprofits................. 12.5
5. Kaiser Foundation Hospitals................................... 16.5 10. Columbia University...................................... 11.7
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http://www.irs.gov/pub/irs-soi/07eocharitiessnap.pdf

You need to call Harvard right away and remind them they have to have "zero profit margin"

The IRS Form

http://www.irs.gov/pub/irs-pdf/f990t.pdf

Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170.

The organization must not be organized or operated for the benefit of private interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence over the organization, an excise tax may be imposed on the person and any organization managers agreeing to the transaction.
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Exemption Requirements - Section 501(c)(3) Organizations
 
saywhatkid said:
That would also be assets. The howls of Conservatives can even be heard by most members of AD. "How can a Liberal have wealth? Why haven't they given it all away and moved to OWS camp? Why aren't they offering the government extra tax money?"
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I know right? it's like... MIND BLOWN!!!!

152p4df.jpg
 
TXgolfer said:
I've done it



All About Nonprofits



Nonprofit organization - Wikipedia, the free encyclopedia

http://www.irs.gov/pub/irs-soi/07ubitaxsnap.pdf





http://www.irs.gov/pub/irs-soi/07eocharitiessnap.pdf

You need to call Harvard right away and remind them they have to have "zero profit margin"

The IRS Form

http://www.irs.gov/pub/irs-pdf/f990t.pdf



Exemption Requirements - Section 501(c)(3) Organizations
Click to expand...

technically..... there's no "profit" in this picture since they are not making profit the same way as "for-profit" organization.

from your links
Nonprofit organization (abbreviated as NPO) is neither a legal or technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends. States in the United States defer to the IRS designation conferred under United States Internal Revenue Code Section 501(c), when the IRS deems an organization eligible. They may or may not have shareholders. [1]

While Not-for-profit organizations are permitted to generate surplus revenues they must be retained by the organization for its self-preservation, expansion, or plans.[2] NPOs have controlling members or boards. Many have paid staff including management, while others employ unpaid volunteers and even executives who work without compensation (or that work for a token fee, such as $10 per year).[3] Where there is a token fee, in general, it is used to meet legal requirements for establishing a contract between the executive and the organization
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so it's 2 different things - "raising money" and "making a profit".... hence "non-profit organization" is not a misnomer.
 
saywhatkid said:
That would also be assets. The howls of Conservatives can even be heard by most members of AD. "How can a Liberal have wealth? Why haven't they given it all away and moved to OWS camp? Why aren't they offering the government extra tax money?"
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They don't have to. That's the beauty of capitalism. They can keep their earnings and profits as they see fit. Or they can donate some of it or all it to charities. In fact, some rich liberals like OWS movement so much they used that opportunity to make money and keep it for themselves!
Jay-Z: Occupy Wall Street-Inspired Tees Pulled After Outcry Over Profits
 
Jiro said:
technically..... there's no "profit" in this picture since they are not making profit the same way as "for-profit" organization.

from your links


so it's 2 different things - "raising money" and "making a profit".... hence "non-profit organization" is not a misnomer.
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That's the most ridiculous post I have ever read. :lol:

as posted earlier
The IRS allows 501(c)(3) organizations to carry over as much money as its members see fit. You can also make and hold profit on any of your activities. “Nonprofit” means you can’t have shareholders who take money from the business, as a for-profit company does. It doesn’t prevent the group from making money to further its mission.
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TXgolfer said:
That's the most ridiculous post I have ever read. :lol:
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yea? let's see...

Charity Fat Cats

Lester has a problem with CEO of nonprofit organization earning $200,000 salary.
For a few years I've been donating to two charities, Heifer (an organization that fights hunger and poverty by providing needy families with livestock) and ACCION International (a microfinance organization committed to poverty alleviation). I believe in their missions and checked them out on Charity Navigator before making my first donations.

I was getting ready to make another annual donation recently and decided to check up on them again at Charity Navigator. I happened to see the CEO's salary for Heifer was in the $200,000 range, and I have to admit I was offended. So, as a comparison, I reviewed the CEO's salary at ACCION International and found that it was also around $200,000.

Am I somehow naive and unworldly for viewing these salaries as objectionable?

—Lester
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A reply -
Patty:

Are you unworldly? Absolutely not. These are two extraordinary organizations doing great work and advancing ambitious goals in very difficult settings, yet you continue to poke around and look for more information on them to ensure your funds are well-spent. I admire that; more people should be so wise about their giving!

Are you naive about pay levels? Possibly. Everything has a market price, and nonprofit CEOs are no different. From what I know of the nonprofit sector, these two executives appear to be in a very reasonable pay range. The size and complexity of their organizations and breadth of the CEO's responsibilities (including fundraising and public duties) require their boards to search for the best candidate in the market. There are hundreds of nonprofit CEO jobs open every year, and these organizations want to attract and retain a great leader. The cost of unexpected turnover at the top can be very high—not only in lost productivity but in lost fundraising and, most important, in lost impact. The best nonprofit executives I worked with had all the skills to make three times as much in the private sector, but they enjoyed the "psychic income" of being in jobs they were passionate about. For the right CEOs of these two great organizations, a $200,000-plus salary seems reasonable to me.
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Sandy:

If our inbox is any indication, this is a perpetual concern for donors: Why am I donating my hard-earned cash to an organization whose CEO is raking it in? I don't think your objection makes you naive and unworldly, but I do think you should look at these salaries in context.

The 2008 Charity Navigator CEO Compensation Survey found that the average executive salary among the charities it evaluates is $149,972. The CEO of Heifer has a listed salary of $236,881; the CEO of ACCION International, $210,000. While those are above average, both organizations are particularly large charities with significant assets. As a percentage of overall expenses, the CEO salaries are actually very low. (Of all nonprofits evaluated, the average CEO's salary made up 3.32 percent of expenses; Heifer's made up 0.25 percent and ACCION's 1.58 percent.) To really put the salaries in context, imagine what these CEOs could make leading similarly sized organizations in the for-profit sector. The average compensation of a CEO at one of the S&P 250 companies is $11 million!

Like you, I want my donations to go to well-run, mission-driven, efficient organizations (such as ACCION International or Heifer). But I also realize that in order to get and retain talented staff and leadership, you need to offer competitive salaries. Looking around at my friends and colleagues in the nonprofit world, I worry that many of them will leave for better-paying careers elsewhere. And my fears aren't unfounded: A 2008 Meyer Foundation survey found that 69 percent of emerging nonprofit leaders feel underpaid for the work they currently do; and 64 percent have financial concerns about committing to the nonprofit sector in the long run.

By setting salaries below market value, we not only risk losing talented leaders—but we also risk losing diversity. If nonprofit jobs don't pay enough to allow people to pay off their student debt, purchase a home, send their kids to college, and save for retirement—then all the "psychic income" in the world isn't going to help.
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not directly related to your post but it's part of thought process in understanding that "non-profit" is not a misnomer
 
Jiro said:
it's puzzling that one thinks "non-profit" is a misnomer.

if the organization is "non-profit"... then how does one expect it to finance itself? of course they are allowed to raise money such as selling tshirts, books, tickets, etc. as long as it's related to organization.

they are not allowed to make profits from activities unrelated to organization.

"raising money"
"making a profit"
Click to expand...

Yeah, I know. They are just trying to play semantics games. Not very good at it though.
 
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