From: "Ted White" <twhite8 at cox.net>
To: "WSFA members" <WSFAlist at keithlynch.net>
Subject: [WSFA] Re: Non-profit?
Date: Sat, 3 Apr 2004 17:28:16 -0500
Reply-To: WSFA members <WSFAlist at keithlynch.net>

----- Original Message -----
From: "Keith F. Lynch" <kfl at KeithLynch.net>
To: "WSFA members" <WSFAlist at KeithLynch.net>
Cc: <john at bungalow.org>; <jekindell at aol.com>
Sent: Saturday, April 03, 2004 4:05 PM
Subject: [WSFA] Non-profit?

> "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.

This came up in last night's conversation.  I was told that there are many
types of non-profit organizations, each with its own requirements, and that
WSFA's was as I said above.    I welcome information on this subject from
those who are better informed.

--Ted White