About Greg McRay
Greg McRay is the founder and CEO of The Foundation Group. He is registered with the IRS as an Enrolled Agent and specializes in 501(c)(3) and other tax exemption issues.Leave a Reply
Search this Site
- Nonprofits: Is Your Tax Preparer Registered With The IRS? January 16, 2012
- Foundation Group To Present Fundraising Workshop January 6, 2012
- Merry Christmas from Foundation Group December 21, 2011
- Year-End To-Do List for Nonprofits December 6, 2011
- What Is Your Conflict-Of-Interest Score? November 15, 2011
- The Other Nonprofits – 501(c)(4), 501(c)(6) & 501(c)(7) July 11, 2011
- Are You Misappropriating Your Nonprofit’s Funds? December 16, 2009
- Nonprofit Executive Compensation May 14, 2009
- How to Pay Your Nonprofit’s Staff May 19, 2009
- Public Charity vs. Private Foundation May 26, 2009
-
Greg McRay: Tony...A 501c3 can give to a non-501c3, so long as...
-
Deborah Mason: I am REALLY glad I came across this website. It i...
-
Randall: Another question. Given the scope of an organizati...
-
Tony: Dear Greg, Really appreciate all the informatio...
-
Randall: Would there also be some legal concerns to allowin...
501(c)(3)
audit
board of directors
bookkeeping
budgeting
bylaws
charitable solicitations
communication
compliance
conflict
congress
donations
examination
Form 990
founder's syndrome
Funding
gaming
goals
governance
intermediate sanctions
IRS
leadership
legal
lobbying
ministry
mission
networking
NHF
nonexempt activities
Nonprofit Payroll
nonprofit taxes
planning
political campaigns
private benefit
programs
Q&A
revocation of tax exempt status
Starting a nonprofit
tax exemption
thrift stores
UBI
Unrelated Business Income
Vital Document Archive
website
year-end



Well, the topic is in the news again. Seems that even though the testing requirements have been relaxed, the potential financial penalties for selling a recalled or otherwise unacceptable product has not. Imagine this scenario: Someone comes to your thrift store (or yard sale) and purchases a child’s toy. Unbeknown to you, the toy was recalled a couple of years ago due to child choking hazard. You could be facing up to $15 million in fines! Yes, that is the number 15 followed by 6 zeroes. Nevermind that no one choked on the toy. If that happened, then you have the parent’s civil suit to worry about.
Again, it seems we’re facing a situation where big government knows best and John Q. Public takes it on the chin. This wildly out of proportion law puts an undue burden on all resellers, especially charity thrift stores. If this at all matters to you, contact your Senator, your US Representative and the Consumer Product Safety Commission and make your voice heard. It works…just ask ACORN!
For the whole story, see New Government Policy Imposes Strict Standards on Garage Sales Nationwide
Related posts:
Posted on September 18, 2009 by Greg McRay in Commentary, Hot Topics
Tags: 501(c)(3) thrift stores