Planning a nonprofit can be deceptively similar to traditional for-profit business planning. Many business attorneys will provide pretty much the same advice to a nonprofit startup as they do to any other small business (compare the big online legal services nonprofit offerings with their standard business offerings). Then again, many attorneys who focus primarily on nonprofits forget the old adage of ‘no margin, no mission.’ In our work with both small businesses and nonprofits, we’ve helped organizations that focused exclusively on mission, those whose mission required them to think more like an entrepreneur, and many in between.
At its core, a nonprofit does face many of the same corporate issues as any other business. We certainly know that world. We also have helped folks wrestle with the intricacies of giving life to their charitable gift to the world. Is starting a nonprofit really the right thing to do? What about giving to an existing foundation or even creating your own? Have you thought about B corporations? Many states offer these as an option in between nonprofits and traditional business organizations. If you do go the nonprofit route, is a 501(c)(3) in your future? If so, how are you going to avoid UBIT while creating a sustaining revenue to support the mission?
As part of our commitment to giving back, we include a number of nonprofit-specific services in our business formation bundles for nonprofits at the same cost as our standard business bundles. If you’re considering making it your life’s work to give back to your community, let us help you do it in a way that honors your commitment while putting a solid structure in place that leads to mission accomplished.
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