what makes us
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URL: http://www.communitytheater.org/forum/forum_posts.asp?TID=765
Printed Date: 5/14/25 at 2:53pm
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Topic: what makes us
Posted By: Mike Polo
Subject: what makes us
Date Posted: 1/25/02 at 8:29am
Non-profit status is a tax issue and an organizational one. Sure, theaters need to make money... the issue becomes "what happens to the money?" Is put back into the theater or is it distributed to the owner(s)? Simplistically, the first is non-profit, the second, a profit making enterprise. Most community theaters are "owned" by their membership and profits are poured into improving the theater and preparing for the next show. Some use the money to contribute to the community. Of course, some community theater groups operate at a loss and are dependant on grants and donations.
Non-profits are not looked at the same way by the IRS as for-profit organizations. While non-profits still file tax forms, they do not pay taxes unless they meet certain criteria, which escape me at this time.
Anyone else want to take a more in-depth look at this? I'd love to post it on the Green Room as an article, if someone would write it up.
Mike Polo
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Replies:
Posted By: Guests
Date Posted: 1/25/02 at 5:04pm
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Aha! Thanks so much, that clears up a lot of questions for me. I, too, would like to see an in depth article on this topic!
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