Are there any disadvantages, limitations, and hassles involved in running a nonprofit corporation?
1. In certain cases, there are some (not insurmountable) limitations on who may receive a salary from the corporation. 2. The net profits and assets of the corporation may never be distributed to the directors or officers or any private person. 3. Your organization may not sponsor political candidates and may attempt to influence legislation only to an insubstantial degree. 4. There are strict limitations on the amounts of unrelated business activities in which your organization may engage. 5. You will be expected to maintain accurate and complete financial records of the corporation, file yearly financial returns (like any corporation or business), and hold regular meetings of the board and document those meetings in the form of minutes. The nonprofit sector is a world of its own. It’s smaller than the business world, but more complex. Certain privileges are available that are not found in the business world; at the same time, certain responsibilities are faced as well. Our business a
