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ShawnA
ShawnA, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Tax
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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HOW MUCH MONEY CAN A NOT ORG. KEEP ON THEIR BOOKS

Customer Question

HOW MUCH MONEY CAN A NOT FOR PROFIT ORG. KEEP ON THEIR BOOKS FORM YEAR TO YEARI N THE STATE OF FLORIDA AND WHERE CAN I READ UP ON THIS?
IF IT IS OVER $100,000.00 HOW MANY YEARS CAN THIS GO ON?
Submitted: 1 year ago.
Category: Tax
Expert:  ShawnA replied 1 year ago.
Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. Retired CPA
Hello and thank you. That depends on why they are keeping it. For example if in order to purchase a building that is fine.
Is this a 501(C)3?
Expert:  ShawnA replied 1 year ago.
There is no statute that I can find (Fl or IRS) that places a limit as long as it is not a foundation vs a non profit.
Expert:  ShawnA replied 1 year ago.
If you have other questions please ask now or later and I'll be happy to respond. I’ll be notified (even if I leave).
If not PLEASE rate this answer so I can be freed to help another person.
Even after you rate my response we can continue to chat here at no extra cost to you.
As I strive for quality vs. quantity, I find I can only handle a limited number of questions at a single time.
Customer: replied 1 year ago.
THIS DID NOT ANSWER MY QUESTION, AS THE 100,000 DOLLARS IS IN THE GENERAL FUND NOT FOR BUILDING A NEW BUILDING OR ANYTHING LIKE THAT. I DO NOT KNOW WHAT A 501(C)3 IS
Expert:  ShawnA replied 1 year ago.
A 591(C) is an irs approved non profit.
It is fine to keep the money in the general fund.
This is the éclat reason I offers a call. To make sure that you get the best possible answer
I will resend the offer or feel free to ask anything else.
Expert:  ShawnA replied 1 year ago.
Are glad or upset they are storing this money?
What are you wanting?
Is there an issue? Are they misusing it?
There is the issue of there bylaws. I was going to discuss that on the phone. Perhaps they can or cannot keep that much.
There are many factors
Expert:  ShawnA replied 1 year ago.
Please let me know if this answers your question or you have others.
Customer: replied 1 year ago.
I AM DONE
Expert:  ShawnA replied 1 year ago.
Ok if you have no other questions hopefully I will get an ok rating for the correct absentee to your questions.
I would have answered or explained more but if you are done I am glad.
I will leave you to rate my service.
Hopefully since I offers the call end went the extra mile I'll get a great rating.
Have a great day
Expert:  ShawnA replied 1 year ago.
If you do not require further assistance PLEASE rate this answer so I can be freed to help another person.
If you have other questions please ask now or later and I'll be happy to respond. I’ll be notified (even if I leave).
Even after you rate my response we can continue to chat here at no extra cost to you.
As I strive for quality vs. quantity, I find I can only handle a limited number of questions at a single time.

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