|SUBJECT ||Re: [hangout] Non-Profit books
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Subject: Re: [hangout] Non-Profit books
Date: Mon, 24 Feb 2003 00:25:58 -0500
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The distinction between non-profit, and not-for-profit was something that I
mentioned (and was shot down) either before, or about the time that the
non(or not-for)profit was being applied for. Were the differences examined,
and was the correct one chosen according to the mission of NYLXS? If not,
should it be changed (ie, do we still have time)?
While I am unfamiliar in the area, I do know that when I was looking into
space in downtown Manhattan post 9/11 for NYLXS, there was a distinction made
on exactly this point, regarding whether an entity was eligible for
rebates/grants/whatever due to 9/11 loss of revenue/business. There were
other requirements as well that NYLXS didn't meet.
I know that there are numbers assigned 501.3(c) whatever to what type of
non-profit exists, but there is a distinction in eligibility for
funds/grants/monies based on the terms "non-profit" or "not-for-profit".
Whether there is further detail, or further sub-categories on different
"non-profits" or "not-for-profits" is besides the point. Is NYLXS in the
I don't know if this was looked at in detail or not. Should it be? Is any
help needed in getting further details? I can get some help in doing
preliminary search on this if requested, but it is really not my area.
On Sunday 23 February 2003 20:28, jam-at-rm-cpa.com wrote:
> FYI- As a non-profit we are only subject to audits in New York (atty gen)
> when our donations/contributions exceed $150,000. We are required to file
> with a "reviewed" financial report with the state if our contributions
> exceed $75,000. We are required to file tax returns and financial reports
> when our revenues exceed $25,000. We simply need to keep our books in
> accordance with generally accepted accounting principles. Non-profits tend
> to keep their books on a fund basis, or by program (functional) inorder to
> report to funders.
> > On 2003.02.23 19:05 Dave Williams wrote:
> > > You should repost this to Hangout.
> > >
> > > Ruben
> > >
> > > On 2003.02.21 19:21 Dave Williams wrote:
> > > > Hi Ruben -
> > > >
> > > > I thought I would share my memories of working for a non-profit
> > > > organization, just to give you some idea of what you might be able to
> > > > expect. For the record, I believe there is a difference between
> > > > "non-profit" and "not-for-profit" -- they are classified under a
> > > > different code number and mean different things, unless I'm mistaken.
> > > > - Dave
NYLXS: New Yorker Free Software Users Scene
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