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Can HOA be entrepreneurial and keep non-profit status?


At our condo association we have a social club that holds social events, like dances, ice cream socials, breakfast, etc. we sometimes charge a fee for the events.  How much money are we allowed to keep in our treasury to stay not for profit.  We have a President, Vice President and Treasurer and hold monthly meeting. The events are only open to owners and tenants, not outside guests.

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