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    momlongmore's Avatar
    momlongmore Posts: 1, Reputation: 1
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    #1

    Jul 11, 2011, 09:05 PM
    Accumulating money and not spending it
    Is it legal for a 501C3 organization to raise and accumulate money and not use it for the purposes intended? Example, the treasury has over three hundred thousand dollars and budgets less than 60 thousand to be spent for the year for purposes intended and more and more money is raised and accumulated. Is this acceptable practice?
    infoguy's Avatar
    infoguy Posts: 108, Reputation: 8
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    #2

    Jul 11, 2011, 10:12 PM

    If money is raised under 501C3 rules, but the money is not used for the purposes designated in the 501C3 application(s), then the purposes were falsely stated, and the money collected was obtained from the donors fraudulently! In that case, every individual who contributed has been SCAMMED! No, it is NOT acceptable, nor is it legal in the United States.
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