Please Explain Non-Profit For Me!

[missy]

Hi folks:-)

I just can't quite understand the real concept of a non-profit center, financially speaking. I realize the monies need to go into the center but you still pay yourself a salary, correct? And child care isn't a get rich quick profession anyway, so how would being for-profit benefit you? The tax exemtptions and avail. of grants/funding makes it sound to me like a non-profit would be a better living. Can someone please clear this up for me?

Does anyone who runs a center here make a generous profit? Even the busy centers here the owners are not rich people.

[Michael]

While I am not a professional on this issue there is information that you can read. I know you can pay yourself administration fee/salary but there are strict guidelines to follow.

http://www.irs.gov/publications/p557/ch03.html#en_US_2011_publink1000200024