Mosiah did you hear Irwin Claire last night on Klass FM

[Baddaz]

time, i cannot speak to the legal classification of associations in jamaica... generally speaking from a historical perspective, the jaaa has been an amateur association that is not run as a private entity for generating profit...

generating income is different... most organizations will need to generate income, however profit isn't necessarily the objective...

i would presume for any organization to be responsible for pension payments, the pensioner would have had to be making some form of contribution to the employer over a period of time... the jaaa does not employ its athletes...

in the usa not for profit and non profit are basically the same except for some slight differences that has to with the irs classification...

i am not an accountant nor am i a lawyer so i am interested to know more about it...

gamma, if you read this can you make a contribution...

[Sickko]

Baddaz for info sake the JAAA is not a non-profit organisation anymore like it used to be and legally it is not an amateur organization either.

The official name of the entity is The Jamaica Amateur Athletics Association Limited which makes it a limited liability entity, I would like Gamma to help us out here by explaining what that entails.

My understanding however is that while they are liable to pay taxes at the end of the year their books might actually show a deficit so they might not owe anything...I stand corrected.

I have heard misguided people here talk about subventions from the IAAF but the other day when Aris was explaining where they get funding from I did not see anything about IAAF contributions.

[Time]

time, i cannot speak to the legal classification of associations in jamaica... generally speaking from a historical perspective, the jaaa has been an amateur association that is not run as a private entity for generating profit...

generating income is different... most organizations will need to generate income, however profit isn't necessarily the objective...

i would presume for any organization to be responsible for pension payments, the pensioner would have had to be making some form of contribution to the employer over a period of time... the jaaa does not employ its athletes...

in the usa not for profit and non profit are basically the same except for some slight differences that has to with the irs classification...

i am not an accountant nor am i a lawyer so i am interested to know more about it...

gamma, if you read this can you make a contribution...

http://en.wikipedia.org/wiki/Non-profit_organization

[Baddaz]

time, thank you for this informative link...

[Baddaz]

ok sah... there is still more to know about what the name change and designation actually means for their operations...