Quick Q - Is USA a Non-Profit Organization?

[Neo5370 132]

I'll be damned, but I can't find a definitive answer online or even on USA Hockey's website or annual report. I'm assuming yes.

Edit Title - USA "Hockey"

[chippa13 1844]

USA Hockey files a 990 as a 501c3 organization, not for profit.

[wrangler 157]

FWIW, that makes it "tax-exempt" under the Internal Revenue Code. It's probably a "non-profit", but that's more a state law term of art.

[chippa13 1844]

True, and this 501c3 requirement basically states you can't be a for-profit corporation.

The organization must not be organized or operated for the benefit of private interests, and no part of a section 501©(3) organization's net earnings may inure to the benefit of any private shareholder or individual.

Note to the OP, being a not-for-profit doesn't mean that they can't make money. It just means that they can't make money for shareholders. They can generate income in excess of expenses to build capital.

[wrangler 157]

There's a bit more to qualifying for tax exemption under IRC Section 501(c )(3), and receiving a favorable determination letter from the IRS. In my limited experience in this area, I've found "non-profit" or "not-for-profit" a classification made under state law, not by the IRS.

I find "non-profit" and "tax-exempt" confused very often, and it's worth knowing that they're not the same, legally speaking. Especially considering that when folks ask about "nonprofit", IRS "tax-exempt" status is really what they want to know. And a lot of them really want to know something else again -- whether the corporation qualifies for tax-deductible contributions under Section 170.

EDIT: I don't know how to make this editor stop changing a "c" in parentheses to a copyright symbol. I hate it when a programmer decides he knows what I want to type better than I do. So I threw in a superfluous space.

[wrangler 157]

A quick check of the Michigan corporate records shows USA Hockey, Inc. is a nonprofit corporation, incorporated in DC.

http://www.dleg.state.mi.us/bcs_corp/dt_corp.asp?id_nbr=90073K&name_entity=USA%20HOCKEY,%20INC.

[Neo5370 132]

thanks guys.