Nonprofit organizations have founders, not owners. Become the founder of a nonprofit organization specifically helping homeless seniors. Although not permitted to make a profit or benefit from the net earnings of the organization, you can receive compensation from the nonprofit. The IRS (which regulates tax-exempt status) allows a nonprofit to pay reasonable salaries to officers, employees, or agents for services rendered to further the nonprofit corporation’s tax-exempt purposes. Therefore, as founder, you will be able to fill the role of “Facility Administrator”, a paid position.
If running your own nonprofit appeals to you and you’re willing to work hard to establish your own nonprofit organization, then getting a grasp on the scope of work ahead of you can help you create the framework needed to succeed.
The good news is; a great deal of the framework has been put into place already.
My intent is to provide you with a road-map I’ve tested, refined and followed. You will just need to tweak it to suit your needs. If you are intrigued and wanting to move forward, then the absolute first thing you need to do is download the necessary paperwork to incorporate as a nonprofit.
I wish you success. If you have any questions please feel free to contact me. I look forward to hearing your thoughts on this endeavor.