A little over a week ago we attended Non-Dues-A-Palooza in Nashville, TN. We learned from forward thinking association executives just how they are implementing non-dues revenue at their associations. One of the sayings that stuck with me was “Non-Profit is a Tax Term, Not a Business Plan.” This statement was made by an executive director of an association who has implemented several for profit incubator programs that have poured millions into their endowment. Yes, I said millions.
The Dynamic Benchmarking team is excited to be participating in the Non Due$-A-Palooza event happening this week and we look forward to sharing what we learn at this exciting event. We hear from associations all the time that non-dues revenue is becoming increasingly important and at Dynamic Benchmarking, we have developed several programs that can help your association utilize benchmarking as a non-dues revenue generator and member benefit.
One of the items we get asked frequently is, exactly what constitutes a taxable item when non-profits like associations start increasing their non-dues revenue. Our friend at Tenenbaum Law Group, Jeff Tenenbaum recently wrote a blog article on this subject and since it's full of great advice, we thought we'd share it here with our followers.