Cohousing-L Mailing List: Re: renting common house to outsiders

[Michael D (ohanamd]

> For some reason, I think that in CA, the law may be different, because we
> had to create a separate account for meals and other non-HOA monies that
we
> take in. And we have several lawyers who were active in researching this
> stuff at the time. I still think that when it comes to codes and state
condo
> laws, you should research your own area since they vary so much.

Then you're talking about something different than what I thought you meant.
If you bring in money from an activity that isn't in the scope of the
non-profit, then that's taxable income of a profit-making business and must
be tracked, maintained, and reported separately from the finances of the
non-profit.

I was talking about making more money from an activity of the non-profit
than you spent.

I haven't dealt with a HOA, so I'm surprised that things like rentals and
meals aren't considered part of the function of the community.  I'm used to
churches and other spiritual communities and educational non-profits.

Namaste,
Michael
Heart Song Community, a spiritual intentional community
Residential community to be located in or near Santa Fe, NM, and built using
some of the principles of cohousing


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