X-Message-Number: 6052 Newsgroups: sci.cryonics From: (Brad Templeton) Subject: Re: Cryonics researchers are a bunch of amators Date: Mon, 8 Apr 1996 21:56:30 GMT Message-ID: <> References: <4k293p$> <4k650j$> In article <4k650j$>, > While the rest of Mr. Bridge's post is a good description of how much >Alcor currently differs from an organization out to make a quick buck, >this implication that non-profit status somehow prevents Alcor from >becoming such an organization is absurd. The fact that the money wouldn't >be legally classified as profits doesn't prevent people from getting >arbitrarily high salaries. Only competition and carefull checking of >reputations by customers can keep cryonics free of scams. Half right, I think. I don't think non-profits can pay arbitrarily high salaries, there are limits. Not that they can't be high, and of course many non-profits have come under criticisms for salaries that are too high, though below the legal limits. Frankly, non-profit status is often not worth it. Many people get it just to be able to tell people they are non-profit, but they go through a lot of paperwork to do it. In the case of a cryonics org, it of course expects to be paid a good sum for suspension, and to save away some of this to pay for long-term suspension and eventual revival. Without clever tax planning this could result in paying tax today on the money that you plan to spend over a century, which would be crippling. I would venture one might be able to report the liability for suspension on the books in some way to cut out the taxes, but I am not an accountant. If you can't, then non-profit makes a lot of sense. -- Brad Templeton, publisher, ClariNet Communications Corp. The net's #1 E-Newspaper (1,300,000 paid sbscrbrs.) http://www.clari.net/brad/ Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=6052