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

    Dec 18, 2006, 11:40 AM
    501c7 working for a LLC
    Hello what is th rules on a nonprifit 501c7 workking for a forprofit LLC
    Northwind_Dagas's Avatar
    Northwind_Dagas Posts: 348, Reputation: 83
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    #2

    Dec 18, 2006, 03:38 PM
    What do you mean "working for?" A 501c7 is not designed to earn profit, although 35% of income can come from non-purpose methods. However, this 35% is NOT tax-exempt. Also, only 15% of income can come from public use of the organization's facilities.

    What exactly is the 501c7 doing for the LLC?
    hotshot1's Avatar
    hotshot1 Posts: 1, Reputation: 1
    New Member
    		  
    #3

    Apr 11, 2009, 09:01 AM

    Hi I own a small hobby farm I want to start a horse rescue and be a nonprofit the land and the barns need to be updated how do I go about getting money for repairs in starting the noprofit all my money is in the land in home if I don't something soon to get some help I may lose my home
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    Apr 12, 2009, 05:21 AM

    Hello hot:

    I don't know how you found this old thread to ask your question on... You should have started your own. Oh, well.

    If you have money in your land, get a second mortgage to start your business.


    excon
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