IT'S ALIVE!

[GGGG]

Sure they can... so long as no profits are distributed to shareholders or owners, the entity is considered not-for-profit.  However, if there are operating profits, the proceeds would have to be allocated to past or future losses or donated to charitable (tax-exempt) organizations in order to avoid paying income taxes.

MUScoop, Inc. would have to fit one of the 26 types of organizations under 501(c) of the Internal Revenue Code.  I don't think there is a section that covers the operation of an internet message board.

[Benny B]

MUScoop, Inc. would have to fit one of the 26 types of organizations under 501(c) of the Internal Revenue Code.  I don't think there is a section that covers the operation of an internet message board.

This is moot any way since MUScoop has no profits to speak of, and likely wouldn't, even with donations.

However, you can be a non-profit without being a 501(c) organization.  Non-profit is a legal status, 501(c) is a tax status.  Non-profit, by definition, means that you do not distribute profits to shareholders, not that you're tax exempt.

[GGGG]

This is moot any way since MUScoop has no profits to speak of, and likely wouldn't, even with donations.

However, you can be a non-profit without being a 501(c) organization.  Non-profit is a legal status, 501(c) is a tax status.  Non-profit, by definition, means that you do not distribute profits to shareholders, not that you're tax exempt.

OK...you got me...but I will say that the original question was about taxes.

[ChicosBailBonds]

Thanks for all the offers. hopefully they'll stand for a few days.  I'll look at getting some donation account setup this weekend.  I know I could do it quickly, but there's no urgency here.

If we make it though the 'nova game without a crash I'll be very happy.  The past few games I've had to get the data center people to walk over to our server and use the *gasp* physical power button to get things reset.  That's how bad it was getting.

To put in another plug - Hostgator rocks.  They got the order for the new server processed and the server setup within 4 hours yesterday.  I still had to transfer all the data (they would have done it for me if I was willing to wait until today, but I wanted to get off the old server quick).  They've been very helpful in all of this, the only thing they couldn't do was make the problems with the old server magically disappear....

I'm bumping this up.....donation tag. Need it

[ultimate]

MUScoop, Inc. would have to fit one of the 26 types of organizations under 501(c) of the Internal Revenue Code.  I don't think there is a section that covers the operation of an internet message board.

I believe that this organization could fall under a 501(c) type organization - likely a 501(c)(7) for social and recreational clubs.

Also, it's a very common misunderstanding that nonprofit organizations cannot make a profit.  Any company that does not make a profit (nonprofit or not) is most likely not going to be an company very long! - unless it has awesome directors that keep plugging their own money into it (THANK YOU MODERATORS!).  As Benny B alluded to - A nonprofit organization is an organization that does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals - (http://en.wikipedia.org/wiki/Non-profit_organization - the end all be all source on the internet).

[rocky_warrior]

I'm bumping this up.....donation tag. Need it

Setting up an org to accept donations is making my head spin.  Keeping it as a personal hobby is easiest.

Hm, with all the tax implications, I think it's going to be a "buy the mods a beer" button.  This way it's a personal gift (taxes come from the giver), you expect nothing in return, and if we happen to occasionally use our beer money to pay for the server, then it's just less beer for us.

On the other hand, we might just buy lots of beer too   Anyhow, I let it slip this weekend, but I'll get a beer button up soon.

[SaintPaulWarrior]

Host Gator is #4 on this list of the top 25.

http://www.tophosts.com/top25-page1.html