Re: [alpacapolitics] Re: [AlpacaTalk] UBIT taxes and non profit stat
Stephanie,
Have you asked a BOD member?
Or are you just content posting it out there and hoping one will read it?
I believe in going directly to the source for my informational requirements.
Rachelle
Black Magic Alpaca Ranch
Honesty, Integrity, Quality
Wyatt & Rachelle Black
P.O. Box 457
6500 Digier Road
Lebec, CA
93243
(661-248-6568)
wyattblack@earthlin
http://pasturemusin
3c.
Re: [alpacapolitics] Re: [AlpacaTalk] UBIT taxes and non profit stat
Posted by: "Stardust Alpacas" stardustalpacas@
Tue Jan 1, 2008 4:59 pm (PST)
I am addressing everyone who replied on this topic.
1. Thanks Connie. I know what a benefactor is. None of you explanations were new news to me!
2. Libby, I confused you with Amy. She said that AOBA is now having to pay higher taxes than before. I believe it was on a post from 12/29 on AlpacaPolitics.
3. Guess what guys! UBIT taxes have been around since 1950. This is not brand new. Libby, maybe I am speaking out of turn, but your husband has a law AND finance degree and has been Treasurer of AOBA for many years. I would think that he would have a clue about what needs to be paid without waiting for an audit. Besides, all you have to do is Google "non profit IRS" and it will take you to the page on the IRS website that tells how a non profit is supposed to work. It refers to UBIT tax plain as day and gives links to nearly everything else related to non profits.
4. The magazine and mailing lists used to be much more affordable to your average member. AOBA changed the rules stariting 2006 and decided to make people pay a premium for these benefits that should be available to all since this is supposed to be a marketing organization. By establishing the Benefactor status, AOBA is now benefiting certain members of the group over others, which is a violation of the requirements of a non-profit. It is in violation because only certain members have access to information that other members do not. If there are a few more Benefactors that are not board members or judges, I am sorry to have excluded you. Still, the majority is made up of the above. So, numbers 1&2 of what constitutes a no profit are not being adhered to.
Lets use Public Television as an example. I donate $5000 to PBS and I am now a Benefactor. I get my name on the screen and am praised for being a business partner and PBS tells the world how great I am. What it does not do is give me a mailing list of every PBS member so I can mail or email advertising to them.
It's slightly different than what AOBA does.
Does AOBA allow members to opt out of the spam?
5.QUID PRO QUO. Since everyone here seems to think that they are donating to AOBA as a benefactor (you are paying for a service of getting a mailing list) or to purchase a female at the AOBA auction, here is some info you might want to know. When you donate, say, $5000 (and everything over $250), AOBA needs to provide you with statement of donation to file with your tax returns. Also, for that Benefactor status, AOBA must provide to you the ACTUAL value of the benefit. You are ONLY allowed to write off the actual amount of the benefit received--not the whole $5000, since we know the benefit is not really worth $5000 in cash.
It seems that people really need to start doing some research. Also, AOBA really needs to get some tax people that know what they are doing.
6. What about the $1million + worth of CD's in the bank?
7. Why did AOBA pay $34k as of June 2007 (only 6 mos commission) to someone for commission for advertising sales in Alpacas Magazine? Is there a lot of cold calling? Seems that most AOBA members that advertise don't need to be sold on it. Neither do the regular vendors that advertise. Also, I am sure that they would like to have reduced rates instead of paying someone commission or get some of that money back.
8. Does setting up the Alpaca Livestock Company allow the BOARD MEMBERS to get paid for their services from now on? I realize that AOBA BOD would still be volunteer without pay since it is now separate.
Lots of questions!
Stephanie
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posted by Chaddo at 7:42 AM
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