HeavenScentU Posted October 22, 2011 Share Posted October 22, 2011 Hi All,I am taking over a Holiday Bazaar as Coordinator which is non-profit. All proceeds collected at the door go to two local charities. My question is, where does the money go when you do your shows??? Does the money go to charities or does the Coordinator(s) keep all the monies??? I am asking because I don't see very many bazaars or shows donate to charities. Thanks Kathy Quote Link to comment Share on other sites More sharing options...
NaturallyTru Posted October 22, 2011 Share Posted October 22, 2011 Many shows hold them as fundraisers for organizations, school groups, etc. Non-profit is just that...no profit...just expenses covered and then donate the rest to the organization. Quote Link to comment Share on other sites More sharing options...
mindy5140 Posted October 22, 2011 Share Posted October 22, 2011 Most of the shows that I do, do donate to charities but then there are several that keep the money to cover expenses on having it then pocket the rest. Which isn't much I suppose since most shows are less than $50 in my area. Quote Link to comment Share on other sites More sharing options...
crazzie Posted October 22, 2011 Share Posted October 22, 2011 My family and I organize a show, I do not charge at the door. All monies goes towards expenses. Whats left over I put it towards a family vacation.Believe me you will have lots of time into it. I manage 35 vendors. It is a year long process! Quote Link to comment Share on other sites More sharing options...
EnvyCandles Posted October 22, 2011 Share Posted October 22, 2011 Agree with Mindy. Expenses like advertising are covered, then remaining amount given to charity/cause. Money from vendors should be enough to cover expenses, and whatever is collected at the door should be added to remaining vendor money and given away. The expenses should not have to come out of the coordinator's pocket. Quote Link to comment Share on other sites More sharing options...
HeavenScentU Posted October 22, 2011 Author Share Posted October 22, 2011 I plan on donating to the two charities, but want to donate to more charities than just two. This bazaar asks for $1.00 to get in and whatever that amount is, is then divided equally for the two charities. I am just curious as what others do out there? I am getting my DBA license for the bazaar and will set it up as non-profit. The lady before me didn't have to have anything because she was grandfathered in 18 years ago and didn't have all the red tape as I am finding out now. When I went to open an account with the bazaars name the bank needed more than a check. All I have is paperwork and a gizmo with bazaar stuff. I have my own business set-up with the bank, but non-profit is a little different I guess..... Quote Link to comment Share on other sites More sharing options...
SherriLynn Posted October 24, 2011 Share Posted October 24, 2011 (edited) Yup.. non profit is a whole different ball game... Before banks will allow you to open accounts you will need to get your 501(c 3) tax papers showing you are registered with the state. In Minnesota I had to file as a non profit biz and mail incorporation papers for approval from the state, to get the ball rolling as a non profit entity. The cost was about $125. You'll need to make sure and remember to file your 990, biz income, at the end of your fiscal year. If you bring in less than $25,000 per year you can file by postcard through the IRS..Is this bazaar linked through the church or another non profit??? You may be able to work with their tax filings already registered with the state to get the paperwork you need to open new accounts. Edited October 24, 2011 by SherriLynn Quote Link to comment Share on other sites More sharing options...
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