Naming Issues with For-Profit Ministry

Print Friendly, PDF & Email

Video Transcript:Naming Issues with For-Profit MinistryHi, I’m Belinda Whitfield, and I have a tip for you today. Actually, it’s not a tip. Really, I’m going to be honest with you, this is just a pet peeve that I have got to share with you, that I hope that you’re not making. It just irks me. This is it.I just hate it. I just don’t like it when people start up their non-profit organizations … No, no, no. They start up a for-profit organization. A minister starts up some for profit LLC or whatever and includes ministry in the organization’s name. Now, that’s totally confusing! Totally confusing!To me, that should be non profit, and also for the general public who may come into interaction with that ministry, they may think that your organization is a non profit organization, and they may make a mistake and write a check to make a contribution to your organization and what, take a tax deduction, illegally.So be careful about the name that you choose for your organization if your a minister and you’re thinking about going for profit as opposed to non profit.Thank you, that’s just my little thing. It’s not like the IRS is going to get on you for that, but that’s just something for you to think about and also to protect the people who may be thinking about trying to support you.That’s my accounting tip for the day. If you have any questions, visit my website at churchcpa.com and submit your question on my contact us page. Have a blessed day.]]>

Belinda Whitfield

Belinda Whitfield is a certified public accountant that specializes in serving churches and non-profit organizations. Through her firm, Whitfield & Associates, she provides tax services, accounting and compliance oversight and strategic planning for churches and non-profits throughout the United States.

All author posts
Write a comment