NACHI 2006 Tax return

[Nick Gromicko]

Dan, to answer your question... no. The 1.477 million is solely from membership dues. NACHI TV is funded privately.

[Harold E. Miller]

Originally Posted by dharris

Truth is every member that asks for ASHI accounting of where ALL OUR $s go is answered by the elected members.
ASHI [ owned and controled by it's members ] also welcomes suggestions from it's members on where OUR $s are spent.

Jason1 and DHarris
"Please Note: This user is a non-member guest and is in no way affiliated with NACHI."

...and what happens when a non ASHI member asks for an accounting?

...oh and Jason thanks for the idiot comment you made about me a few posts back. That indicates the level of intelligence you will be subjecting us to in this thread.

[Jason1]

Originally Posted by hmiller

?

...oh and Jason thanks for the idiot comment you made about me a few posts back. That indicates the level of intelligence you will be subjecting us to in this thread.

I didn't call you an idiot, some one sent me a red box calling me a idiot stick.

[Ben L. Garrison]

Originally Posted by dwillis

Cut staff in less than half, work load increase to the point of overload, save NACHI 50,000 and much, much more.

but...
we could not ask for a better boss than Nick Gromicko even though he drives all of us crazy. Its all worth it when you love your job and your best friend is your boss.

Awwwwww how cute.... (tear falling down face)

[kbowles1]

Who cares what the final numbers are as long as the organization is in the black. Nick had a good idea, started NACHI, and is making a killing.........more power to him. Thanks for all you do Nick and next year opt for the Ferrari when your accountant tells you to spend some money quickly.

Kevin

[Joe Farsetta]

Dan H...

If ASHI is controlled by its members, then why do a select few, within states pushing for legislation, or control, or power, or whatever... often GO AGAINST the wishes of the rank and file membership of that chapter or state when it comes to unfunded PERSONAL mandates?

Like forcing members to pay for lobbiests, or to be members in a statewide "coalition".

This has happened countless times.

[dharris]

Originally Posted by jfarsetta

Dan H...

If ASHI is controlled by its members, then why do a select few, within states pushing for legislation, or control, or power, or whatever... often GO AGAINST the wishes of the rank and file membership of that chapter or state when it comes to unfunded PERSONAL mandates?

Like forcing members to pay for lobbiests, or to be members in a statewide "coalition".

This has happened countless times.

I don't know, I just worry about my local chapter, Forcing members in a state wide "coalition", my experience is, in AZ the members have a choice ..

I'm really not sure what your referring to.. Is it like nick liking and supporting a certain state lic requirements, even tho it's against nachi members wishes???

I do know If ASHI members do not agree with elected members decisions made on our behalf, the members will have the opportuny vote them out of office at the next election.

Other than that you might want to ask the parties involved, they may answer that question.

I don't understand why busshy is soooo worried about ASHIs financial position, why isn't he worried that nachi spend more than was collected [ after over 5 years in business] after seeing nicks post, it looks like nachi is broke and does not have any reserves at all
</IMG></IMG></IMG></IMG>

[Joe Farsetta]

Nah...

Financially, NACHI is doing just fine.

[dharris]

Originally Posted by jfarsetta

Nah...

Financially, NACHI is doing just fine.

Thats good Joe..
Keep maintaining the 99% renewal rate, offering worthless or non existent bennie's to snag unsuspecting newbies and I sure nacho will keep on ah trucking
</IMG></IMG>

[jmichalski]

Originally Posted by jfarsetta

Nah...

Financially, NACHI is doing just fine.

Intersting perspective considering that, for the second straight year, NACHI demonstrates a loss, at least on paper. Despite the blather about gross reciepts, everyone knows that it isn't what you gross that ultimately matters...it's what you net.

[Nick Gromicko]

Joe M:

NACHI is not just a non-profit organization, but is also a Federally tax-exempt organization. Two very different things. Anyway, we are not permitted to have a net profit.

[jmichalski]

The IRS only says that they cannot be organized for personal profit to individuals and shareholders, not that you cannot generate more income than you spend. It is good business practice to have a rainy day fund and cash on hand.

You will note where they even mention a business league or trade association that only makes enough money for self subsistance as an exception:

Section 501(c)(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.
A business league is an association of persons having some common business interest, the purpose of which is to promote such common interest and not to engage in a regular business of a kind ordinarily carried on for profit. Trade associations and professional associations are business leagues. To be exempt, a business league's activities must be devoted to improving business conditions of one or more lines of business as distinguished from performing particular services for individual persons. No part of a business league's net earnings may inure to the benefit of any private shareholder or individual and it may not be organized for profit to engage in an activity ordinarily carried on for profit (even if the business is operated on a cooperative basis or produces only enough income to be self-sustaining). The term line of business generally refers either to an entire industry or to all components of an industry within a geographic area. It does not include a group composed of businesses that market a particular brand within an industry.
Chambers of commerce and boards of trade are organizations of the same general type as business leagues.

Similarly a "not-for-profit" does not mean that no net profit is allowed to be generated, but rather that it may not be distributed to or for the benefit of any individuals or shareholders.

[James H. Bushart]

Originally Posted by jmichalski

The IRS only says that they cannot be organized for personal profit to individuals and shareholders, not that you cannot generate more income than you spend. It is good business practice to have a rainy day fund and cash on hand.

You will note where they even mention a business league or trade association that only makes enough money for self subsistance as an exception:



Similarly a "not-for-profit" does not mean that no net profit is allowed to be generated, but rather that it may not be distributed to or for the benefit of any individuals or shareholders.

Yea, Nick. Gosh. Don't you know anything about money and stuff? Does Joe Michalski have to teach you everything?

[Nick Gromicko]

Jeeze Joe, I didn't know that. I'd better not start or buy a 33rd corp. Running 32 of them as I do now is bad enough.

Anyway, you can keep some reserves without jeapordizing your tax exempt status but one of the successful scams run by tax-exempt orgs is to build up big reserves over years then pay it out at the end of the life of the org in a manner which violates tax exempt status causing them to lose it, but too late... the money is already gone. To avoid the appearance of that being our secret plan, especially since I've personally been accused of planning to do just that, we keep the IRS auditors happy and our critic's mouths shut by spending every penny of membership dues creating more free member services. I think this is evident (even to the very ignorant) when one looks at all we do and how little we do it with: www.nachi.org/whats_new.htm

[Nick Gromicko]

Also, the $300,000.00+ more that we collected in 2006 over 2005 and our total revenue under-represents our true growth and size as our largest chapters were spun off into their own separate corporate entities in early 2006.