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What Does It Mean That We Are A Not-for-profit 501(c)(3) Corporation?

Discussion in 'ABOUT THE HOBBY-MACHINIST, INC.' started by Management, Nov 22, 2015.

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  1. Management

    Management United States Administrator Staff Member Administrator

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    - No one makes a profit from this site. All proceeds are dedicated to our charitable and educational purposes in our mission statement. Our staff are all volunteers. No one makes a salary. We run this site for educational purposes only, in order to promote the hobby of machining, to help people to learn how to use metalworking machines safely and effectively, and to perform projects for their personal enjoyment and satisfaction.

    -None of the posts on this site will ever be used to help the site owners make a buck.

    -Your donations to our site are tax-deductible.


    -This site will not be sold to a commercial entity that will profit from your contributions. When you participate on this site, you are not making someone else rich.

    -We don't provide your information to third-parties for money. We don't sell you books, magazines, or anything else to make ourselves money.

    You can post elsewhere and make their owners money, or post here and help other fellow hobby-machinists. The choice is up to you.
     
    Last edited by a moderator: May 1, 2016
    MrFixIt and T Bredehoft like this.
  2. T Bredehoft

    T Bredehoft Active User H-M Supporter-Premium

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    Location:
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    This (501(c)(3) is recognition from the US government of the educational and charitable purposes of the forum. Recognition is not easily achieved, Nels et al should be proud.
     
    Snell Metalfab - Joe likes this.
  3. Nels

    Nels United States Founder Staff Member H-M Supporter-Premium

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    The process took about 4 months, including setting up the state corporation, state department of education permission, and the lengthy IRS application. It can take over a year. You have to be absolutely sure of your mission, and you have to be absolutely up front with the IRS about what you are doing. They will ask questions during the process, and you need to provide reasonable answers.
     
    Snell Metalfab - Joe likes this.
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