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Chapter 26: Nonprofit Charitable Funds

Chapter 26 Non-Profit Charitable Funds

Author: Heguangwuwu

Chapter 26 Non-Profit Charitable Funds

"This kid! He actually played an empty city trick with me." Pan Jianguo smiled and shook his head.

Then he asked: "Where is the person named Hao now?"

"After leaving Changsheng Hall, Ding Changsheng and I had dinner at Quanfu Building, and then went to the villa area in SOHO district.

The person named Hao has a villa somewhere.

After coming out of the villa, the two separated. Hao first went to Guan Ye's place on Baiye Street, and then went to Fifth Avenue.

In addition, we learned from aviation that the person named Hao applied for the passage three days later."

"Yeah! When Hao is ready to leave, find an enthusiastic citizen to call the customs." Pan Jianguo nodded and casually explained.

"clear!"

Pan Jianguo didn't speak anymore, he just looked out the car window with a gloomy expression.

"Check the account of that boy Changsheng." After a while, Pan Jianguo explained again.

"yes!"

Maybachi fell into silence again.

Ding Changsheng didn't know this.

He was receiving Smith at this time.

If you entrust Smith to help you register a charitable foundation, you will naturally need to sign an entrustment contract, authorization and other documents.

Charitable funds in the United States are very screwed up. There is a rule that 5% of the total fund account must be spent every year.

However, as long as you spend 5%, it doesn't matter how you spend it. It doesn't need to be used on charitable projects. It is legal to spend all of it, and the law does not care, as long as your foundation's articles of association allow it.

As for your own foundation, of course you can set the charter yourself, and there is no need to make it public.

The most damning thing is that as the owner or manager of a charitable foundation, all your food, clothing, housing, and transportation can be deducted from the charity fund.

For your clothes, the charity foundation can customize Armani work clothes.

Your food can help the charity foundation organize charity dinners and French working meals in five-star hotels.

For your housing, the charity foundation can buy a mansion as an office space.

If you are interested, you can ask the charity foundation to arrange for you to go to the Alps or Las Vegas for inspection and negotiation.

According to an investigation by the American media, a diabetes charity once raised nearly $14 million, but only spent $10,000 on patients.

However, this is not the darkest charity; there are six that don't even spend a penny on the charity projects they talk about.

This is not the most important thing, the most important thing is that all of this is actually legal.

The tax bureau recognizes it.

The Inland Revenue Department does not stipulate a salary cap for managers of charitable organizations.

Listening to Smith explaining the inside story of American charity funds, Ding Changsheng couldn't help but wonder, should he put Zhang Xin's contract into the charity fund?

Also, it seems that the $10 million invested in the charity fund is a bit less.

I could have donated all the money I had, the villa as an office location, and the Changsheng Hall as well.

I also want to donate naked!

Ding Changsheng couldn't wait to announce to the whole world that he wanted to donate naked.

I told Smith my thoughts and asked for his opinion.

"Dear Ding, there is no need to donate money from Changshengtang. You can donate the money earned by Changshengtang to the charity fund, which can offset the taxes you have to pay.

Because the charity fund you want to establish is non-profit, if you donate to Changshengtang and then treat patients, you cannot continue to charge fees, otherwise it will be illegal.

If you don't want to pay property tax, you can donate the building of Changshengtang to a charity fund, and then the charity fund will provide it to Changshengtang for free.

This way you can avoid the problem of property tax." Smith analyzed the doorway inside to Ding Changsheng.

"Mr. Smith, thank you so much. After listening to your words, I became enlightened.

Just do as you said and register a charity fund first."

“What is your charity project?”

"The development and promotion of traditional Chinese medicine, or the development and promotion of acupuncture, or traditional Chinese medicine treatment for poor people can be used." Ding Changsheng thought for a while and said.

"Dear Ding, you also need to formulate the charter of a charitable foundation.

Although the articles of association do not need to be made public, they need to be submitted when applying to register a charitable foundation."

"Smith, don't worry about anything. Please help me draw up the charter of the foundation!"

After all, I don’t know much about American laws.” Ding Changsheng spread his hands.

"OK!" Smith agreed readily.

There is a fee for registering a charitable fund as an agent, and there is also a fee for drafting the foundation's articles of association, and these are additional charges.

Even the current chat between Ding Changsheng and Smith is billed.

After seeing off Smith, Ding Changsheng looked at the time and saw that it was time to get off work again.

After closing the store door, Ding Changsheng and Uncle Lin chatted for a few words before heading to the supermarket to shop.

Wu Street is an old street with a history of more than 100 years.

Although it looks a bit shabby, it is quite prosperous.

The streets here have a unique style, and various signboards and shops have a strong Chinese style, but the buildings also contain Western styles.

It can be regarded as a combination of Chinese and Western.

The roadside is lined with various stalls selling various fruits, snacks, and small commodities.

Of course, there are also various shops.

When passing by a Chinese medicine shop, an old man happened to be seeing off customers. After seeing Ding Changsheng, he smiled and shouted: "Changsheng! How is your business there?"

"Fourth Master Long, thanks to your old age, the business is still okay. It has been much better recently than it was a while ago." Ding Changsheng said with a cupped hand.

"Haha! It's good if business is good! I recently received a batch of new medicinal materials. Come back and see if there is anything you need to add. Take some back." Fourth Master Long said with a smile.

Mr. Long Si is in the business of medicinal materials. Even though his shop in Bejie is not very big, his business is quite large. He is one of the largest suppliers of Chinese medicinal materials in the United States.

The outside world doesn’t know, but he supplies most of the Chinese medicinal materials in New York, and the medicinal materials in his store are quite complete.

I also have a medicinal garden under my control: a base of Chinese medicinal materials.

"Fourth Master Xie Long, I will definitely come over tomorrow. It happens to be time for my store to stock up, so let's go together tomorrow." Ding Changsheng said with a smile.

Second Grandpa bought Chinese medicinal materials from him, and after Ding Changsheng came, he also bought goods from him.

"Just come here tomorrow!" Mr. Long said with a smile, turned around and entered the drug store.

Ding Changsheng continued to the supermarket, slowly admiring the scenery on the street and thinking about the recipe for the evening.

After arriving at the supermarket, Ding Changsheng quickly bought the ingredients he needed, then carried the ingredients and slowly returned to Changsheng Hall.

This is basically how men buy things. They like to think about what to buy before buying. When they arrive, they go straight to the goal and leave immediately after buying.

Unlike women, they only think about what they need to buy while shopping after arriving.

Thanks to [Sword Soul Platform] [There is no way to have Liu Hao] [Generally speaking] [I farm] [Brother Tian today] [Light tea and mulberry fragrance] [The wandering of lonely people] [The only one of the woodcutter] [mfive

】【Liao Bushi】Waiting for the rewards and support from brothers.

In addition, brothers and sisters, if you have monthly tickets, please support me.

(End of chapter)


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