18 Dec
2007
18 Dec
'07
3:05 p.m.
That was a great tip I learned at Bike!Bike!: WWSAD? What would the Salvation Army do? You could look up your local laws, but it is easier to contact your local Salvation Army and just do what they do.
I have seen a requirement from distributors for a "re-seller license" but we don't have one and I have always left it blank and still been able to get the account.
--
Sincerely,
Jonathan Morrison
Executive Director
Salt Lake City Bicycle Collective
2312 S. West Temple
Salt Lake City, UT 84115
w: 801-328-2453
c: 801-688-0183
f: 801-466-3856
www.slcbikecollective.org
Get Addicted to Crank!
http://www.slcbikecollective.org/crank/
On Dec 17, 2007 10:00 PM, Angelo Coletta ruotangelo@yahoo.com wrote:
> Hello
>
> Non-profit organizations sell goods for income. They can earn more than
> their expenses. The essential difference is how profit is distributed and
> employed. For profit entities put the money in the pockets of investors and
> owners. Non-profits pay fairly to their workers and any surplus funds must
> be used toward their cause. Funds can be put aside for a good reason, e.g.
> like a church's building fund. Look at Goodwill, Salvation Army, others.
> They operate like any business, but the funds are used for their mission.
> Taxes will be assessed when the entity hoards funds too long for no good
> reason. Employee/employer wage laws/taxes apply. Unpaid volunteers have no
> tax assessments, but can claim deductions for commuting by car and other
> expenses incurred
>
> Liability insurance is a good thing to carry. It is a good feeling to
> know that if someone is hurt due to a group's negligence, funds are there
> to help make it right.
>
> Angelo L. Coletta
> former shop owner
>
>
> *Edward France edfrance@bicicentro.org* wrote:
>
> Good People,
> So Bici Centro of Santa Barbara is finally legit- we obtained
> fiscal sponsorship from our local bicycle coalition on December 4th, and are
> hoping all the hurdles to getting bank accounts, vendors number, liability
> insurance, financial 'books' and all that good stuff. Of course this means
> that we don't do any under the tabley stuff and cover our butt's. So here's
> a big question we are trying to deal with properly:
>
> How do we legitimately sell bikes?
>
> In other words- do we have people sign a release similar to if they build
> the bike themselves?
>
> do we have a special insurance for selling bikes?
>
> can the price be a donation, or is it a taxable
> payment?
>
>
> is there any advice you all could send our way on the question of being a
> non-profit selling bikes.
>
> All the best from fair Santa Barbara,
>
> Ed France
> BiciCentro.org
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