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There are several ways to work this Initiative. One is to establish a non-profit corporation. In addition to the responsibilities of running a corporation, there are many regulations, and numerous forms to file with federal and state agencies. (Did you know that to solicit donations one must register with each state in which donations will be solicited?!) My plate is already quite full, thank you.
Another way is to do this all as an individual. I think my husband would kill me! We would, as a family, have to "donate" all the expenses ourselves. And, essentially, it would be like running a business without a license.
Another way is to partner with an established nonprofit. My company, which sponsors the AAQI has partnered with the Greater Michigan Chapter of the Alzheimer's Association. Beginning in August 2006 all online auction bids will be processed through their credit card merchant account so that the money collected goes directly to them. They, in turn will turn it over to the national Alzheimer's Association where it will be awarded to deserving research studies.
All other money collected for Alzheimer's research by the AAQI will funnel through my company, Mallery Press. This allows me to deduct expenses and donate profits. Many businesses do this all the time. They donate a portion of sales to charity. Rather than donating a portion of the proceeds, ALL of the proceeds will be donated. And, you get to see where and how it is spent.
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