Originally posted by anda_skoa
View Post
Announcement
Collapse
No announcement yet.
KDE Again Operated At A Loss During 2023
Collapse
X
-
Originally posted by ngraham View Post
The large reserve is due to enormous one-time donations made years ago (prior to that, KDE e.V's cashflow and reserves were both pretty minuscule) that German government regulators didn't like to see; we had to spend it down to avoid the risk of looking like we were stockpiling money; German nonprofit regulations are significantly stricter than American ones are. Current fundraising efforts are aimed to make current intentional spending levels financially sustainable over time.
Comment
-
Originally posted by sophisticles View PostCan someone explain to me 2 things:
1) How do they spend more money than they take in? Where is the extra 118k coming from? There must be more to the story.
2) How do they have a tax liability? Are they not registered as a charity? If not they need to get the NFL's lawyers, the NFL up until 2015 was a 501(c)(6) organization​, meaning it was designated as a charity and paid zero taxes.
Look into it Nate, I'm sure there are some legal shenanigans you can use to avoid taxes.
1) they may have had cash reserves from previous years
2) they may have taken a loan from the bank
Non-profit charity in Germany have to pay taxes when, for example, they employ someone, then payroll will include salary and a tax, to the contractor, a lawyer, or employee. Also, they may need to pay municipality taxes on buildings, and various taxes and VAT on services they provide and so on. These taxes may be independent of the fact that they registered a loss in the entire tax year.Last edited by piorunz; 07 September 2024, 08:27 PM.
- Likes 3
Comment
-
Comment