[RETURN TO MAIN PAGE]


Q: What is a for profit public assistance foundation?

A:  Basically a "for profit public assistance foundation" is the same as a non-profit public assistance foundation, without the tax exemptions provided by the federal government.  In our particular case, the difference is mainly technical, as we do not actually seek to make a profit and any profits we do make would be re-invested into the foundation..  


Q: Why aren't you a non-profit?

A: Obtaining non-profit status requires wading through a large amount of red tape and the preparation of a great number of legal documents.  We are looking at all our options.


Q:  What are your options?

A:  We have a few chioces in this area.  

    1.  We can pay someone to prepare the non-profit  documents (reducing the available cash reserves for providing assistance)
    2.  we can prepare the documents ourselfs (a rather long and cumbersome process) dedicating staff resources that could be used elsewhere.
    3.  Remain a for-profit foundation and absorbing the tax liability into the foundation..

Each of these choices has pros and cons and we will be evaluating each of them throught the coming year.  Which ever choice allows us to provide the most assistance to the most people at the least cost is the one we will choose.