Non proffit schools? help please if you have any info

[SenseiMike]

Let me explain to you the philosophy of my school:

Higher quality, lower prices. I refuse to charge the average rate for karate in my area ($150 a month) I only charge $65, unlimited classes, my testing fee is only $10. I did this because I was disgusted by the fact that many people who want to train can not because the price of lessons is so high.

I know that some schools are running as non proffits but still charge monthley fees and pay the instructor(s) a salary. How is this done, I feel that I may qualify for such, but have know Idea how to approach it.

Also, how would one go about seeking sponsorships for a tournament team? I need the funds to provide my guys with travel expenses, and tournament fees.

Thanks for your help

[sk0t]

Well usually before you get sponsorship you must prove that your team is worth it. By winning some titles and championships.

Then you can go around to your local businesses and ask for sponsorship in an amount.

But you must have a quality team.

[Belasko]

What I have often seen instead of sponsorships for these sort of things is fund raisers. Walk a thons, club garage sales, push up a thons, etc. I doubt this would work if you are giong to tournaments and stuff every month, but it could help w/ one or two for a while. At least until you can establish yourselves and start getting sponsors.

[pineapple]

Non profit is many times a misleading term. In general, it means that you spend whatever money comes in and the money is often spent as salary for individuals or in other words, the company as a whole does not have a goal of seeking profit, however individuals within the company can.

In this state, it requires an emormous amount of paperwork to qualify as non profit and requires that you form a corporation. Hiring a CPA to keep track of your paperwork and possibly a business attorney to set up would be a good idea.