Posted by A S Johnson on 11/14/13 3:23pm
Msg #492768

NNA

It is a Californis base FOR-PROFIT company!!!!!!NOT anyway a Non Profit company-maybe in their minds, only.

Reply by John Tennant on 11/14/13 4:06pm
Msg #492786

The National Notary Foundation, at the same location is a non profi,t tax exempt organization with a citizen 30% contribution limit. The National Notary Association claims in some of their website information,that they are a non-profit organization. Are they?

Reply by sueharke on 11/15/13 12:50am
Msg #492852

I'd love the NNA to be nonprofit. That way I can request their income tax returns for the last 3 years and the company is required to provide them.

Reply by BrendaTx on 11/14/13 4:38pm
Msg #492790

Geography - XYZ locations

Some of their entities have been created in other states. That they are in California is not a reflection on our California brothers and sisters. [Remember the grassy knoll and where it was located?]


Non-profit:

The non-profit XYZ foundation exists. http://goo.gl/ODOVwZ
But, I don't think that the foundation is the entity that is managing the SPW activities, if that is what you mean. But, who knows?

Reply by MW/VA on 11/14/13 7:39pm
Msg #492821

Foundations are created as tax shelter. No one should

assume that a Foundation = charity or anything like that.

Reply by John Tennant on 11/14/13 9:41pm
Msg #492830

Read National Notary Foundation/NNA

http://www.nationalnotary.org/about/National_Notary_Foundation/index.html.

The foundation gets its money from the NNA. Just read the above website.

Reply by BrendaTx on 11/15/13 3:20am
Msg #492860

Setting the record straight on for-profit / non-profit

First, "foundations" (as non-profits) are often created for purposes that are strictly charitable.
All of them are not "tax shelters." I am fairly certain that the X.Y.Z. foundation is for genuine non-profit, charitable purposes.

At least one of the "X.Y. Association" entities that is registered in a certain state is a NON-PROFIT entity -- this one is likely the entity that receives all or some memberships. ("Association" is the key word.) http://www.ftc.gov/os/comments/factaidt/000029.htm

At least one entity, the "X.Y.Z. Insurance Services" located in one particular state (not necessarily California) and is another piece of the corporate structure. It is definitely a FOR PROFIT with a declaration of purpose on line 8 that describes its "for profit" services: "Sale of Notary Public Services & Supplies." I suspect that there are many of these registered across the US...it's good business for very large companies to have registered entities in the places they do business.

There are not just ONE or two entities within the XYZ corporate structure. I believe that it is safe to guess that there are more than 100 entities under the XYZ umbrella. It is all public record, but who has time to investigate and count. The facts I am spitting out are from a search awhile back.

Since they sell insurance, they are required to register their insurance selling entities in all (or most) states in which they do insurance business. (i.e. notary bonds & e/o insurance).

The word "association" may be used in the names of FOR PROFIT entities in many (or all?) states. It is just a word in a title.

If you want to find out more, start searching at the offices of the 50 Secretaries of States...The SOS is where one would find Texas entities.

Reply by MW/VA on 11/15/13 3:37pm
Msg #492943

Thanks, Brenda. I was only pointing out that a Foundation

(which is set up as non-profit), isn't necessarily a charity. It can be, but doesn't have to be. It is a tax shelter.

Reply by JanetK_CA on 11/15/13 8:51pm
Msg #493003

Re: Setting the record straight on for-profit / non-profit

Thanks for this info, Brenda. I think it's also important to keep in mind that just because a corporate structure includes one (or even a few) entities that are not-for-profit does not mean that the entire operation is not-for-profit. So I feel that their claims of being a non-profit organization are a bit disingenuous, to say the least...

Reply by Bob_Chicago on 11/15/13 12:15am
Msg #492844

There is a difference between a not for profit organization

and a charitable foundation.
The NNA IS a not for profit organization as are many associations such as AARP, BBB,
fraternity/sorority a labor union chamber of commerce, etc etc.
That means they are not a business intendied to make a profit.
A 501c3 such as the NNA Foundation is a charitable organization such as Red Cross, March of Dimes, etc, and contributions to such organiztions are deductible for income tax purposes.