New Mexico
Hi,
I'm in the process of starting a film production company and I'm having a hard time deciding whether it can be a nonprofit or an LLC.
I will produce documentaries focusing on environmental and social justice issues which will be created primarily for educational purposes. I plan to submit them to film festivals, public t.v., etc. Funding for documentaries is hard to find so I expect to self finance my first production then once I have something to show I will seek grants, donations from foundations, the general public, etc.
It is my understanding that a certain percentage of your funding must come from outside sources from the get go in order to claim non profit status. Is this true? Would it be better to set-up an LLC?
Thank you.What is the name of your state (only U.S. law)?
Hi,
I'm in the process of starting a film production company and I'm having a hard time deciding whether it can be a nonprofit or an LLC.
I will produce documentaries focusing on environmental and social justice issues which will be created primarily for educational purposes. I plan to submit them to film festivals, public t.v., etc. Funding for documentaries is hard to find so I expect to self finance my first production then once I have something to show I will seek grants, donations from foundations, the general public, etc.
It is my understanding that a certain percentage of your funding must come from outside sources from the get go in order to claim non profit status. Is this true? Would it be better to set-up an LLC?
Thank you.What is the name of your state (only U.S. law)?