San Francisco may get its first nonprofit bar
A group in the city wants to establish a drinking establishment that gives its proceeds to charity.
There are all kinds of drunks: happy, sentimental, belligerent, flirty and sleepy, just to name a few. But how about philanthropic? Do a couple of drinks make you want to help out your fellow humans? A group in San Francisco hopes it will.
The organization United Libations has come up with what may become San Francisco's first nonprofit bar -- a place where patrons can get inebriated secure in the knowledge their booze money is going to a good cause.
United Libations is pledging to donate 100% of its profits to development projects around the world. Last month the group began a series of fundraising events around San Francisco -- complete with a bar, music and entertainment -- with a goal of bringing in at least $8,500.
The group has already picked out some charities its foundation wants to help fund: English classes for orphans in Haiti (to "dramatically improve their employability") and a rainwater collection system for a town in Uganda.
So far, United Libations hasn't met its fundraising target. But according to its website on the Indiegogo funding platform, it will hold six "pop-up" parties to determine if there's enough public interest in seeing the bar sign a lease and find more permanent digs.
Some people have expressed doubts over the venture, particularly related to such issues as overhead, insurance and whether the IRS would even allow the concept of a nonprofit bar.
But in an ongoing discussion on Reddit, United Libations founder Nishigandha "Nishi" Boppana says at least 25% of each drink is guaranteed to go towards charity. "Based on any remainder profits over consecutive months," she added, "we'll consider how much needs to go to re-investment, and then donate the rest as well so that profit donated is always 100%."
And no, unfortunately, your drinking expenses at United Libations would not be tax-deductible. Nishi points out that a bar, as a business, cannot legally be incorporated as a nonprofit. And in response, the group has set up United Libations as two legal entities -- a company that runs the business operations and a nonprofit organization that handles the donations and distributions to charity projects.
Boppana writes that the ultimate goal of United Libations is to "create a sustainable business that constantly generates revenue -- which constantly funds development projects around the world." Let's drink to that.
I watched my local United Way chapter spend $250,000 (yes, it was confirmed eventually!) on a new advertising campaign to get people to become workplace donors. So... did it work? Nope. A quarter of a million dollars on radio spots and billboards that could have fed and clothed people is now gone!
NEVER AGAIN will I donate a dollar to these vultures!
That's the same business model of every VFW, DAV, and American Legion with a bar, except that money goes to Veterans and local community programs. Both are non-profit organizations and neither pays it's officers a salary.
Of course they are also more selective on who gets to use the bar area.
Let's see. Non-Profit. How do we do that? Well, we open a business, make a lot of money, deduct all our expenses, and what ever is left, we give to charity. So what are our expenses? Well, let's see. All the normal stuff. And saleries. Everyone (at least the management) gets a really big salaries. We don't have to worry about profit, but if there is anything left over after our salaries, well, we give it to charity and then we are non-profit, we make a lot of money, the charity gets a cut, we don't pay taxes, so it's all good. Works for me.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market finished the Wednesday session on an upbeat note with the Nasdaq (+1.3%) ending in the lead. The S&P 500 settled higher by 1.1% with all ten sectors posting gains.
The benchmark index spent the entire trading day in the green, rallying to new highs during the last hour of action. The tech-heavy Nasdaq, meanwhile, briefly dipped into the red during morning action, but was able to recover swiftly.
Stocks began the trading day with modest gains ... More
More Market News
The company is scrambling to protect its equities arm, which could face declining volume and revenue as competitors close the gap.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'