Date: Sat, 3 Apr 2004 16:05:30 -0500 (EST)
From: "Keith F. Lynch" <kfl at KeithLynch.net>
To: WSFA members <WSFAlist at KeithLynch.net>
Subject: [WSFA] Non-profit?
Cc: john at bungalow.org, jekindell at aol.com
Reply-To: WSFA members <WSFAlist at keithlynch.net>

"Ted White" <twhite8 at cox.net> wrote:

> I was told last night that the problem with the WSFA Press was that
> it was fine as long as it lost money, but one successful book put
> WSFA's non-profit status in jeopardy -- at which point the Press
> ceased functioning.

My understanding is that non-profit organizations are allowed to make
large profits.  They just aren't allowed to hand them to the members.
And that even that is somewhat flexible:  WSFA could, in principle,
pay its officers salaries.  We just can't treat members as stockholders
and start paying dividends.

Other than that, I think we're free to do pretty much anything with
our money that an individual is allowed to do with his money, except
donate it to political campaigns.

I'm CCing John and Judy, as they are paid to know this stuff.

Since Panix just donated us space on the grounds that we're a
non-profit, it might be a good idea to wait a few months before using
Panix space to sell books.  But I can certainly add a page on the WSFA
Press.  I have a flier entitled "Being An Ever So Brief History of
WSFA Press".  I could ask Wade to scan it in, but does anyone already
have a machine-readable copy?  Thanks.

As long as I have John's attention, who is Lee Lee Howard, and does
he still have any connection with our web site?  He has been listed
as our technical contact since forever.  He has never been to a WSFA
meeting, nor has he ever been mentioned in the WSFA Journal or (until
now) on this list.
--
Keith F. Lynch - http://keithlynch.net/
Please see http://keithlynch.net/email.html before emailing me.