What is the name of your state? CA
I am currently pondering the idea of starting a Non-Profit to raise awareness of the Runaway Production problem currently plaguing the entertainment industry, forcing many talented individuals to relocate outside of the US or change careers in order to stay employed.
There are several questions that I am looking to have answered:
1. I know there are laws governing how much a Board member can personally benefit from their non profit. I currently own a Visual Effects Company and would indirectly benefit form people recognizing this issue and helping find solutions. Would this be a problem?
2. This is probably a popular one… How much can I pay members of the Board, myself included? In my current profession I can make up to $10,000 a week. I realize that would probably throw red flags everywhere if I were to pay myself that as a Board member. What would be a standard salary for a Board-member of a mid to larger NP group? Mid-to-Fulltime. 30+ hours a week.
3. Can that salary fluctuate depending on cash flow? For example if there is no-money then I could suspend or reduce my salary?
4. To start out I would probably be the only board member, along with a few employees would that be an issue?
5. I would like to do some lobbying as well, not for candidates but for the promotion of bills that would benefit local/US/state productions. These bills may or may not be written/funded buy us, what limitations are there on this type of activity, given that it is non-partisan.
6. As a non-profit can you accept “work” and issue the works value as a tax write off to a supplier? For example If I needed a website and a company A provided me with a $6000 website for free can that “value” then be used as a tax deduction by company A?
7. What type of NP would be best to form and what restrictions come with that type? 501C(3)?What is the name of your state?
I am currently pondering the idea of starting a Non-Profit to raise awareness of the Runaway Production problem currently plaguing the entertainment industry, forcing many talented individuals to relocate outside of the US or change careers in order to stay employed.
There are several questions that I am looking to have answered:
1. I know there are laws governing how much a Board member can personally benefit from their non profit. I currently own a Visual Effects Company and would indirectly benefit form people recognizing this issue and helping find solutions. Would this be a problem?
2. This is probably a popular one… How much can I pay members of the Board, myself included? In my current profession I can make up to $10,000 a week. I realize that would probably throw red flags everywhere if I were to pay myself that as a Board member. What would be a standard salary for a Board-member of a mid to larger NP group? Mid-to-Fulltime. 30+ hours a week.
3. Can that salary fluctuate depending on cash flow? For example if there is no-money then I could suspend or reduce my salary?
4. To start out I would probably be the only board member, along with a few employees would that be an issue?
5. I would like to do some lobbying as well, not for candidates but for the promotion of bills that would benefit local/US/state productions. These bills may or may not be written/funded buy us, what limitations are there on this type of activity, given that it is non-partisan.
6. As a non-profit can you accept “work” and issue the works value as a tax write off to a supplier? For example If I needed a website and a company A provided me with a $6000 website for free can that “value” then be used as a tax deduction by company A?
7. What type of NP would be best to form and what restrictions come with that type? 501C(3)?What is the name of your state?