George Ryan said, in part:
>But don't try to kid yourself. Your CLUB is a big business, a very big
>business. It generates dollars every weekend at the local level, with the
>annual income of Solo at the National level arguably the most financially
>successful part of the SCCA (despite what appears to be some very creative
>accounting to show it's members otherwise). Your leadership wants you to
>come, leave your money, and go home after spending your day with them. Same
>as your local theater - or the NHRA. The SCCA is not listed as a non-
>profit organization at the National level. They are undergoing a major
>leadership facelift Nationally so they can achieve more success - financial
>success.
George, the national Sports Car Club of America IS a not-for-profit
corporation in the eyes of the IRS. So are each of the SCCA regions.
If they aren't they can't get their annual charter. The national SCCA
has created some subsidiaries (like SCCA Properties) that do not
qualify as not-for-profit, but the club is firmly in the
not-for-profit category. Which doesn't mean it must lose money or
can't make money. It is where the money goes that determines the
category.
I am a past treasurer of one of the regions and learned this first
hand when we had to go hat-in-hand to the IRS after many decades of
operating without a proper ruling from the IRS. Their rules were very
strict and we met them readily. All of our income goes to benefit our
club purpose, not our club leaders. I trust that DSC will meet the
same high standard.
Lloyd Loring LWLoring@home.com
|