Non profit - passive income

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Apr 20, 2006 9:10 am

If one was compensated for being an advisor on a board of a non-profit would that be passive income? Cheers

Apr 20, 2006 10:52 am

No. 


Passive income is only that in which you are not actively involved.  Like a limited partnership or real estate. If you are an advisor you have done something yourself (hopefully) to earn that income, therefore you are actively involved.

Apr 20, 2006 1:53 pm

Okay well this would be instance where one would have to get signed off by the principal.

Apr 21, 2006 7:39 pm
babbling looney:

No. 


Passive income is only that in which you are not actively
involved.  Like a limited partnership or real estate. If you are
an advisor you have done something yourself (hopefully) to earn that
income, therefore you are actively involved.





Good answer.