DANC 1271 Lecture Notes - Lecture 6: Dance Troupe, Marketing Plan, Synapsis
8 Nov 2016
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Document Summary
If you were going to start your own dance company . If not successful they bear the brut of the failure. For profit or not-for-profit: for profit (not very often in the performing arts, individual, corporation, collective (profit-sharing) Must pay taxes on profits (and they must be a reasonable expectation of making a profit within 3 to 5 years) Follow standard business practices for accounting, payroll and reporting purposes, etc. Cannot issue tax-receipts for donations: seriously restricted in fundraising (no one wants to give money to increase an individuals or company"s profits, not for profit. No taxes on profits (no profits), and therefore, accounting and reporting producers and somewhat relaxed (stress on the somewhat) If register your charity with the federal government usually year long process, you can issue official tax receipts (meaning donors can reduce their taxes) You can then fundraise with better results as people fell they are giving to art or to charity.
