I told my employees this morning that we were converting to a 501 c3 nonprofit company. There is

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Rick

I told my employees this morning that we were converting to a 501 c3 nonprofit company. There is

silence in the office except for personal calls to loved ones. What did I do? Do you think that I aught to have our attorney and manager explain the ramifications?

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The Oracle:

I sent you an email to your msn address......totally unrelated to this question- please......PLEASE reply ASAP....Thank you.

Just Me, Always !!:

If all you did was make the announcement without an explanation perhaps they were waiting for you to explain the rest... hence the silence... they were waiting for you to continue with an explanation.
If your knowledge was limited to only making the announcement and lacking in knowledge to answer their questions, then you should have planned ahead to make the announcement with a qualified person on the scene beside you that could .

After making the announcement you should have stepped aside and let the qualified person explain and answer questions which would have prevented confusion, mistrust, and the need for a second meeting to sweep up the mess.

Mountainman:

What kind of company is it,Rick? Your employees may think that the books in the future may be done to indicate no chance of a payraise or bonuses in lieu of profit sharing (for example), etc. You are right that people aren't educated enough in most cases to understand the nuances of business, unless they are involved in the management end.

DD1937:

You just mentioned "this one" 26 minutes ago.

DD1937:

For an executive mastermind such as yourself it seems you could figure some of this "stuff" on your own, lololololololollolhahhahha

Jesse:

wow! whotta "Rick-o-shay"!!

2 Cents:

I worked for a non-profit company, and didn't get ANY benefits, nor did it count towards unemployment. Still had to pay those taxes though. Oh, and my wage was minimum Is that going to happen? If I were your employee, I'd be working on my resume and make haste to get out of there.

Rick:

Childrens hospital in the laurelhurt dist is non profit. Wages will not change,nor benefits the only thing that will truly happen is that we will be tax exempt in our low income housing projects. We rehabed 24 homes in White Center and had to pay taxes on homes we essentially did not make a profit on.

Answer: