Question
A.4. You're running a small nonprofit, organizing volunteers to help rehabilitating decrepit housing stock in a disadvantaged community for use by low-income families. You've been
A.4. You're running a small nonprofit, organizing volunteers to help rehabilitating decrepit housing stock in a disadvantaged community for use by low-income families. You've been working with a home improvement store which is donating building supplies. As you're getting more supplies than you can use, you see the potential in generating new revenues to jack up your small budget by re-selling excess supplies to the public.You plan to brief the board and request authorization to hire a staff person to oversee the sales.What does the board need to know in terms of compliance with IRS rules?
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