Legal Question in Business Law in Alaska

non profit business

does the owner of a non profit business get a salary from the donations or from the grants received?

Asked on 2/11/09, 9:30 pm

1 Answer from Attorneys

Donald Scher Donald T. Scher & Associates, P.C.

Re: non profit business

A non profit corporation can employ persons to conduct the business of the company and those persons can be paid salaries. The salaries paid must be reasonable and for work done for the non profit. You must qualify as a non profit with the IRS and you must report the receipts and expenses of the company. There is no dividend paid or distribution of profit earned by the company.

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Answered on 2/12/09, 10:49 am

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