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Why are private country clubs allowed "non profit" status....!
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Ex: "Socialist" Send message Joined: 12 Mar 12 Posts: 3433 Credit: 2,616,158 RAC: 2 |
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Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30640 Credit: 53,134,872 RAC: 32 |
This was the first example article I found after I discovered this non-profit factoid. Wait until you find out about 501(c)10 and 501(c)8! |
Bob DeWoody Send message Joined: 9 May 10 Posts: 3387 Credit: 4,182,900 RAC: 10 |
Could it be because the members of Country clubs are also in large part the same people that write the laws? Bob DeWoody My motto: Never do today what you can put off until tomorrow as it may not be required. This no longer applies in light of current events. |
Ex: "Socialist" Send message Joined: 12 Mar 12 Posts: 3433 Credit: 2,616,158 RAC: 2 |
Could it be because the members of Country clubs are also in large part the same people that write the laws? And we have a winner. Bingo #resist |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30640 Credit: 53,134,872 RAC: 32 |
According to the IRS Publication 557, in the Organization Reference Chart section, the following is an exact list of 501(c) organization types and their corresponding descriptions. So your local bridge club or your local model railroad club or your local computer users group or horror upon horror the local country club is a 501(c)(7)! |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30640 Credit: 53,134,872 RAC: 32 |
So your local bridge club or your local model railroad club or your local computer users group or horror upon horror the local country club is a 501(c)(7)! Ah another who knee jerks. The model railroad club often buys a building to put up their layout. That is far over $1000 a year. I suspect a lot of you think that just because they are not for profit that the money they collect is tax deductible. It isn't. They aren't a charity. Any employee's pay income tax. They pay sales tax and real estate tax. There is no profit, no dividends. No profit, no income tax. |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
Im willing to bet that there are some on here who would say that our own GPU user group shouldnt be tax exempt. [/quote] Old James |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
Yes they should, and quite rightly too. Not me Im all for them. [/quote] Old James |
skildude Send message Joined: 4 Oct 00 Posts: 9541 Credit: 50,759,529 RAC: 60 |
the USPGA is a non profit. Even though they taking in $$$ millions, once they've plated their golf carts with gold and give away the remainder, they technically are not for profit. The big problem with not for profits are that they aren't created equally. I think most folks think of not for profits as liberal "help the poor" shoestring budget organizations that operate out of rented space in a dingy part of town. Clearly this isn't always the case In a rich man's house there is no place to spit but his face. Diogenes Of Sinope |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30640 Credit: 53,134,872 RAC: 32 |
I think most folks think of not for profits as liberal "help the poor" shoestring budget organizations that operate out of rented space in a dingy part of town. Yes, frequently they are a charity set up to enrich the people running it by spending 99% of the donations on the executive salaries and fund raising expenses and drop as few dimes as possible on the charity cause they solicit for. All perfectly legal of course. |
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