Is it possible to profit from a non-profit corporation?

Question

I am interested in starting a non-profit organization that would greatly help many people and I would like to make it a career for myself as well

Answer 1

I believe that you have to give away at least 50% of your profit to charity.

Answer 2

No money in = no money out

Answer 3

They don't do it JUST for the cause, I'll tell you that.  There's plenty of money in it.

Answer 4

It depends on how you define "profit." If you run a non-proft you can classify yourself as the CEO or Chairman of the organisation, thus commanding a salary. Of course, any salary amount would be determined by the revenues from donations, and there are numerous state and federal regulations governing all aspects of non-profit operations.

Profit, in general, would not be the aim of such a corporation. Thus, the term "non-profit."

Conversely, Jesse Jackson has surely profited from the Rainbow Push Coalition.

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Answer 5

you'll have to get in line.  Every charity makes money, tough reality, but true.

I'm sure you can think of many, starting with the catholic church, MDA, the red cross, etc. all have "administrative costs". :)))

Answer 6

You can't "profit" from it, there are strict rules about how much 'unrelated business income' a non-profit can have.  However, you can earn a salary from the non-profit.  There are guidelines you should follow but not strict rules about it (such as one other answerer implied), but one test you'll have to be sure to adhere to is that the non-profit cannot exist for the benefit of one single family.  So, you could earn a salary from your work, but the work you are doing really should benefit others.

Answer 7

Yes, you can. You pay yourself a nice salary, and claim every expence that you had that is related to the business(dry-cleaning, restaurant ...) I hope you got the idea.