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Home > Careers & Employment > Goverment & Non-Profit > What is the best way to run my organization; Profit or non profit? (Better Articulation)?

What is the best way to run my organization; Profit or non profit? (Better Articulation)?

Category: Goverment & Non-Profit

shavtrikshavtrik


The non profit seems difficult . What about a regular business that is an academy and it uses sponsors and or sells high priced items like expensive events, and dinners to fund the organization.

The non-profit aspect seems to be far too controlling and stifles effectiveness

What I mean by that is: a non profit is stifled and controlled by a board of directors. In other words I do not want gridlock. I have a very good efficient plan and I do not want it warped by people who all have their own ideas. I do not want it being added to or stripped down to the point where it becomes something totally different. I do not want to be prideful but I have an idea that i want staying unchanged.

Piggiepants
Piggiepants

This is not really a question. If you don't want the governance and oversight a nonprofit organization is required to have, don't do it. The onlly way to accheive what you want is to establish a regular corporation. If you don't go public, you don't have to have a board or shareholders telling you what to do. You can do whatever you want, however you want to do it. If you want to donate your profits to a group, you can. If you want to ask others to sponsor a group, you can.

IHowever if you don't want the governance of control required for a 501(c)(3), you jdon't get tax-exempt status from the IRS. You won't be exempt from taxes or offer tax deductions to those ywho sponsor or fund the academy. But since you have such an excellent business model, that shouldn't be a problem for you.

Eystavros Levine
Eystavros Levine

STAKEHOLDERS, BOARD OF DIRECTORS, VOLUNTEERS, DONATORS, VENDORS:

You are going to be controlled one way or the other: Be it a Private Foundation, a 501 C3, an LLC, Subchapter S Corp, A "C" Corporation or Self Employed. Since you are going to be controlled, why not make the best of it? Become a 501C3 and your contributors will be able to donate and take a tax deduction for their donations. The FORD Foundation is a Private Foundation, but his family has the funds to maintain the Foundation. The Hughes Foundation is another Private Foundation, not dependent on the contributions of the public.

This might make it easier

www.501c3.com


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