I am starting a non-profit with a group of friends. We want to be a social club 501c 7 but our main purpose is to host Charity events. Ive read that we can except up to 35% off net revenue from outside sources. Ive also read that we cannot benefit from any funds outside membership dues.

My questions are, if we want a social organization that is involved in philanthropy how much from our charity events can we spend on growing our organization and how much do we have to donate?
If we are a 501c3 could we still have membership dues and be able to except new members and basically be a social club or is there more restrictions? What's the best way to approach this?

Whats the best way to approach this?Hello b:

Hire a CPA. Not only can he TELL you how and why you do it a certain way, he can SET it up for you, AND do your books. That's a twofer! They don't charge very much for their services either.

excon