Income

"We need oxygen to breathe!" *

"We are managing a business utilizing all of our skills; profit or nonprofit is the same. 

There is NO difference."

Unique for Nonprofit Corporations

"Establishing a 501(c)(3) is simply a tax election which allows for two important things: 

ACCEPTANCE OF CHARITABLE DONATIONS

PAYMENT OF NO FEDERAL TAX ON MISSION RELATED INCOME"

==========================================

990 & 990T (defined) | Highlights by Guidestar

Unrelated Business Income (UBI)

Public Charity vs Private Foundation

Types of income:

Donations

Cash

Stock

In-kind

Grants

Government >>> Grant.gov or SBA

Nonprofit >>> GuideStar | BMGF Grants | 2022

Sales of Goods or Services

Primary or Tangential 

Volunteers | Fundraising | Support Raising

Unique for Social Enterprises

Corporate Purpose

Conscious Capitalism | Credo | Partners

Social Enterprise Alliance

Types of income:

Sales of Goods or Services

Primary or Tangential 

Definition of Profit: a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

As Raj Sisodia and Whole Foods Market co-CEO John Mackey noted in their book, Conscious Capitalism: Liberating the Heroic Spirit of Business: “A good business doesn’t need to do anything special to be socially responsible. When it creates value for its major stakeholders, it is acting in a socially responsible way.” 

* the quote at the top of the page is from my friend Mr. Fuad Alfozan, Owner of the Gulf Group in Kuwait