Non-Profit Engineering Firm
Non-Profit Engineering Firm
(OP)
Has anyone heard of a non-profit engineering firm? In a very brief look, I saw that their are provisions for scientific organizations. I imagine that you could pay employees more if you had this designation by avoiding taxes.
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If you can't explain it to a six year old, you don't understand it yourself.
RE: Non-Profit Engineering Firm
https://www.engineeringforchange.org/news/how-to-w...
https://www.reddit.com/r/nonprofit/comments/40jt9n...
TTFN (ta ta for now)
I can do absolutely anything. I'm an expert! https://www.youtube.com/watch?v=BKorP55Aqvg
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RE: Non-Profit Engineering Firm
https://www.communityengineeringcorps.org/
https://www.ewb-usa.org/
RE: Non-Profit Engineering Firm
RE: Non-Profit Engineering Firm
Happens to a lot of engineering firms!
RE: Non-Profit Engineering Firm
Happens to a lot of corporate divisions too!
Division makes a profit, and executives increase bonuses until division is non-profit.
RE: Non-Profit Engineering Firm
"Non-profit organizations" define themselves with goals that do not emphasize profit but rather service to specific groups.
"Not-profit organizations" avoid setting goals, emphasize efficiency rather than activities such as sales or production.
www.sparweb.ca
RE: Non-Profit Engineering Firm
Gensler is an architecture practice with a similar business structure and size, but always with a more commercial project mix (the irony!). They are relatively profitable too, and distribute all their profits annually to staff.
RE: Non-Profit Engineering Firm
RE: Non-Profit Engineering Firm
TTFN (ta ta for now)
I can do absolutely anything. I'm an expert! https://www.youtube.com/watch?v=BKorP55Aqvg
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RE: Non-Profit Engineering Firm
I can tell you from working at Arup in the olden days at least that there was a palpable sense of it having a "mission", and not just being about money. Consulting engineers in general have that going on - we are like the monks of the construction world, seekers of truth and shunners of the corrupting influence of money.
RE: Non-Profit Engineering Firm
Mind you, this is actual non-profit work, not the tax avoidance scheme the OP seems to be searching for.
RE: Non-Profit Engineering Firm
Engineers Without Borders
What do you want to do?
--
JHG
RE: Non-Profit Engineering Firm
As an example, here is an excerpt from the APEGBC code of ethics:
(5) uphold the principle of appropriate and adequate compensation for the performance of engineering and geoscience work;
RE: Non-Profit Engineering Firm
I just want to grow a business to service an industry and make a reasonable amount of money doing it. For example, what would stop me from starting a business that services the renewables industry and operates as a non-profit? I expect or want to pay good employees well and really have no problems with me taking home a little less if I can build a strong foundation of strong employees. I generally most problems at firms relate back to poor compensation causing staffing issues. An engineer who makes 30% more for example likely has 10-15 years more in experience. I just see a non-profit as a way to possibly avoid taxes and make it easier to meet those goals. I don't quite why it is harder to compensate employees better under as a non-profit. I am just distributing profits or always investing in something to grow the business.
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If you can't explain it to a six year old, you don't understand it yourself.
RE: Non-Profit Engineering Firm
Talk to a CPA first - they'll keep you from running afoul of the IRS.
RE: Non-Profit Engineering Firm
https://www.irs.gov/charities-non-profits/exempt-o...
TTFN (ta ta for now)
I can do absolutely anything. I'm an expert! https://www.youtube.com/watch?v=BKorP55Aqvg
FAQ731-376: Eng-Tips.com Forum Policies forum1529: Translation Assistance for Engineers Entire Forum list http://www.eng-tips.com/forumlist.cfm
RE: Non-Profit Engineering Firm
I would also look into ESOP's (employee stock ownership plans).
RE: Non-Profit Engineering Firm
I think though you mean "not for profit", i.e. the aim is not to make a profit for shareholders, though this is usually achieved by charging less rather than paying employees more.
Given the very low profitability of a lot of companies, there isn't much leeway either way and all it really means is that the company often needs support from individuals, governments or charitable institutions in order to survive as their capital base is low and they don't have any retained profits to smooth out the dips and troughs, not to mention doing work at low or no cost for certain clients.
This is a none profit organisation doing great work and typical of a not for profit organisation https://www.bridgestoprosperity.org/
Remember - More details = better answers
Also: If you get a response it's polite to respond to it.
RE: Non-Profit Engineering Firm
TTFN (ta ta for now)
I can do absolutely anything. I'm an expert! https://www.youtube.com/watch?v=BKorP55Aqvg
FAQ731-376: Eng-Tips.com Forum Policies forum1529: Translation Assistance for Engineers Entire Forum list http://www.eng-tips.com/forumlist.cfm
RE: Non-Profit Engineering Firm
RE: Non-Profit Engineering Firm
"Wildfires are dangerous, hard to control, and economically catastrophic."
Ben Loosli
RE: Non-Profit Engineering Firm