(Scroll to bottom for Directory Ad Sample)
Is US Automotive Gives Back, Inc. a nonprofit business? No. It is a for-profit, Public Benefit Corporation. A corporation that earns income from activities that are not directly related to a charitable cause cannot operate as a tax-exempt nonprofit under IRS rules for a 501 (3) c. The disqualifier is called the Unrelated Business Income Tax. (UBIT)
Is a Benefit Corporation something new? Yes, Benefit Corporations are fairly new to modern government. Twenty-three states have written legislation for this class of benefit corporations and structured them for annual reporting. But the purpose and mission of benefit corporations -- also described as conscious capitalism--are not altogether new.
Why did you choose to become a Benefit Corporation? Our first idea was to start a non-profit business using auto repair advertising to fund the many worthy veterans' organizations. We thought that a directory for small-business owners who need a reliable presence on the ever-changing internet would be the ideal income source.
When we learned that a non-profit cannot be funded with advertising income, we were disappointed. But we quickly discovered Benefit Corporation as alternative to non-profits. Further research led to facts about the
B Corporation class, and the surprise that our state had recently enacted Benefit Corporations into law!
We're excited to be part of the growing movement of companies using the power of business to solve social and environmental problems. We have found an innovative way to facilitate "giving back" from a different platform--and we chose to make the opportunity available to the entire automotive industry, beginning with the segment of small, after-market business owners, of which we are one.
Is "conscious business" anything like socialism?Not at all. We think of ourselves as social entrepreneurs, not socialists. As owners of our business, we make all the decisions on how to make money and what to do with the profit, with guidance from our volunteer trustees who will monitor business and mission fulfillment. We are receptive to the concept of conscious business; we believe that business should have a positive material effect on its shareholders (if any) AND its stakeholders: the employees, the community and the environment. To the thinking of social entrepreneurs, the People, Planet, and Profit are equally important to the "bottom line."
Do Benefit Corporations get any tax credits or tax breaks? No. We will pay taxes on the same federal and state schedules as C and S corporations. We can deduct the same expenses as all businesses. We will file returns at the same time. We are required to report more data to the state to meet higher levels of transparency and accountability to our dual purpose. Our corporate income tax return will be posted the website each year.
How much can you donate to the injured veterans since you are not a nonprofit?We can and will donate 100% after expenses, taxes and employees are paid, as stated in our Articles of Incorporation.on file in PA. The IRS allows corporations to deduct charitable donations but there is a cap. Much of what we donate will not be tax deductible. Government has to collect taxes to pay bills. Taxpayers will also be paying their share of the war debt for years to come. That doesn't change the fact that we can make a difference in the power of money through "commerce-to-cause" business solutions.
Which organizations will you donate to?
That is still to be decided because there are many nonprofits with worthy missions. For example,The Intrepid FallenHeroes Fund is building diagnostic treatment centers all over the country to be available to vets with "invisible wounds." So strong is their commitment that 100% of donations are used for their mission. There are groups focusing on job transition such as TheMission Continues, and on the needs of families in emergencies like On Behalf, run by veterans; and some for adapted housing like Homes for Our Troops. We'll do as much as we can; the participation of the huge automotive industry as a united group is key to success and significance as a Benefit Corporation.
Why would automotive companies want to advertise in another new online directory?Smart companies are always looking for new ways to advertise and new tax deductions to improve their bottom line. Standard corporations are required by law to maximize profits for shareholders. Charitable donations are legitimate expenses but they are capped. Advertising fees however are deductible expenses without caps. The "bonus" in advertising on usautomotivegivesback.com is the public statement of commitment to a cause deserving of our support. It is a excellent business decision for any automotive company-- a true "Win-Win."
Can other business and industry advertise on usautomotivegivesback.com ?At this time, we are focused on bringing the whole automotive industry together as a unified voice to express the tradition of high regard for military veterans. Our livelihoods, jobs and careers have depended on the continuous flow of oil from the Middle East, made possible by the service and sacrifice--sometimes the ultimate sacrifice--of dedicated troops. In the future, we will be able to accept donations to the Fund for First Responders. But for now, our focus is on the present needs of injured veterans. For many who are still suffering, the wait for resources or treatment has already been too long.
http://www.thewaitwecarry.org (very powerful interactive video)
Or, SIGN UP NOW !
You can help us use business as a force for good. It is time to accelerate our efforts.
HOW WILL MY AD LOOK IN THE DIRECTORY? SEE SAMPLE IMAGE BELOW.
All data is fictitious, except for Advanced Automotive Service Center. This is not a final version.
CITY/TOWN Drop Down Menu Here
Banner Ad Space (for one or two)
Reynold's Auto Repair & Service 610-231-9898
McAfee Automotive Alignment & Tire, Inc. 610-451-0098
We are turning Ads for Automotive Business
into Aid for Injured Veterans.
Ad Space about this size (3 or 4 lines) for related businesses on a as-space-allows basis for three months minimum.
Advanced Automotive Service Center, Inc. 610-524-0396 WEBSITE
Wally's Way Auto Repair Company 610-487-0235
Marti's Express Auto & Truck Repair 610-525-0019
University Automotive, Inc. 484-765-4690