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Author Topic: ZL9HR money?  (Read 35837 times)
NU1O
Member

Posts: 2662




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« Reply #120 on: January 18, 2013, 07:27:42 AM »

Just wondering, how can a non profit organization be allowed to make a profit on a venture? (IF they did actually make a profit)

Someone above noted Gus Browning.  I worked for Gus at his radio station, WORG, in Orangeburg, SC. Gus was a great guy.  Not sure why he would be in the "Hall of Shame"........

73, Gene AF3Y
Hi Gene,

The only real difference between a non-profit and a for-profit is a non-profit must retain any excess revenue (profit) to further the goals of the organization, whereas a for-profit has the option of paying out a dividend to stochholders.

I'm sure you know of, or have done business with, a hospital run by a non-profit organization.  Their fees may still be set so they make a profit and they are able to pay employees competitive pay packages but since they are not paying dividends to stockholders they don't pay taxes.  Nevertheless, they can still get very big by accumulating annual profits tax free.  It's a system which can be abused by those simply looking to avoid taxes.
Many non-profits have executives making salaries of over $1 million a year. I'm thinking of hospitals and universites.

HARAOA could still be a non-profit and use the profit from the ZL9HR expedition to help pay for their next trip. There likely will not be a next trip but they can use the funds to buy equipment which is probably the reason they are so steadfast to keep the profit in their club.

Many years ago there was a scandal with the Red Cross - a non-profit group- as their CEO was making a large salary and had access to a limousine and all the other luxuries a big for-profit would have.

The bottom line is a non-profit can still make a profit but it must be retained in the organization.


73,

Chris/NU1O
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VK3YP
Member

Posts: 22




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« Reply #121 on: January 20, 2013, 10:04:44 PM »

http://vk9nt.odxg.org/team/Norfolk%20Island%202013%20Team%20Member%20Agreement.pdf

In addition to the $5000 input costs zl9hr team members did not pay - we didn't ask a cent for "lifetime membership of haraoa" of $200 per team member - another $1,600 for a haraoa organised event.
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ES1TU
Member

Posts: 290


WWW

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« Reply #122 on: January 21, 2013, 01:21:13 AM »

we didn't ask a cent for "lifetime membership of haraoa" of $200 per team member

VK2IR, VK3YP - every time my brain filters out a word "hellenic" or "greek" - I suspect there's some kind of scam in the air.

This is quite an achievement, congrats!

It's amazing how low would some people go for few thousand bucks and I'm impressed it was worth the damage you have done to SV reputation.
At least in my books.
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NU1O
Member

Posts: 2662




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« Reply #123 on: January 21, 2013, 07:31:06 AM »

In an older message I brought up the fact it was the Greeks who created Democracy since I found it ironic two members of HARAOA with seemingly Greek ancestry were doing as they pleased with the ZL9HR donations while the other eight members opposed. That seemed more dictatorial than democratic to me.

I do not think it is fair to paint all Greeks with one brush due to the actions of two whom I believe to be currently Australian by nationality and Greek through their ancestors. The Greeks are like any other nationality.  Most are very hard working honest people. Every nationality has some bad apples so let us not blame a whole nationality for the actions of two.

73,

Chris/NU1O

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