Good Morning and Welcome to Tax Free Thursdays! Tax Free Thursday’s are inspired for Non-Profits and the Civic Minded Entrepreneur For this purpose, the civic minded entrepreneur is an entrepreneur who is not only concerned with, but enters business for the intents and purposes to aid the wellbeing of the community. Today we wanted to talk about some myths that lay behind opening a non-profit organization. No one makes any money in the nonprofit sector. The terms “nonprofit” and “charitable” have a certain connotation, and they conjure up images of big hearted humanitarians who do everything and for free. Not true. Many non-profit CEO make millions each year. Look at the earned wages for these non-profit CEO’s for the year 2010-2011 •Herbert Pardes, New York-Presbyterian Hospital $4,304,346 (No longer at the organization.) •Peter Marzio, Museum of Fine Arts, Houston $3,943,145 (He died in December 2010.) •Gary Gottlieb, Partners HealthCare System $3,062,505 •Delos Cosgrove, Cleveland Clinic Foundation $2,279,364 •John Seffrin, American Cancer Society $2,081,246 •Mark Wrighton, Washington University in St. Louis $1,920,107 •James Mandell, Childrens Hospital Boston $1,861,684 In the No. 1 spot was Herbert Pardes, the former head of New York-Presbyterian Hospital who retired in 2011. He earned $4,304,346, including about $2 million in bonuses. Now, of course when starting your non-profit you may not start with wages like this. However, with the right mindset, why would you stop at wages like this? There’s no upward mobility in nonprofits. In reality, the non-profit sector provides many people a lifetime of exciting and rewarding work. Also, NPOs tend to offer young people more leadership / advanced opportunities than other sectors. Please check out the website to my non profit organization Entrepreneur Success Builders Network (ESBN) bsmartesbn Those that couldn’t hang in the business sector end up in the non-profit sector. Nonprofits are full of highly-intelligent people with graduate degrees and/or years of experience in the business sector. Proof of their intelligence – see #1 above. The key reason why they fell into the non-profit sector is largely based on their passion for their work. “Purpose, Plan, Passion, and Practice: These are the keys to a millionaire mindset.”- Baron BSmart Howard With BSmart Holistic Entrepreneur Coaching, we can show you how to develop a millionaire mindset. We can discuss your purpose plan and passion and empower you to practice and put into practice all the things to enhance your success. Inbox me today for an assessment. And don’t forget, it’s time to BSmart about everything you do.
Posted on: Thu, 24 Oct 2013 12:03:02 +0000
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