We are trying to make sure we don’t loose our Non profit status and we had been putting part of the assessments away in CD’s for years saving for a new runway. We moved it to an investment portolio and have made a good profit which we are paying taxes on….but when we cash out in a couple years we may have about 100,000 dollars in profit; will that negate our status as a non profit? We are interested in setting up a meeting to be sure.
The information provided is for general information and does not form an attorney-client relationship. See our .Bill HenryFounding Partner | 18 years of experience
Bill HenryFounding Partner 18 years of experience
You should schedule a free case assessment with our Tax Attorney Lucas Frei. Some facts need to be fleshed out about your HOA and it's non-profit status as well as the investment in order to advice you on the best course of action.
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