• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

For Profit Business Wanting to Start a Non Profit 501c3

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

nonprofitq

Junior Member
Missouri

QUESTION

I am an intern and my boss is having me look into starting a nonprofit organization (with mission dedicated to sustainability in our industry/possible related industries). I've done a ton of research and have a pretty good handle on getting the 501c3 incorporated but am still unable to find a few answers.

Is it possible for a for profit to spin off a nonprofit and retain control? Or at least be very much associated with the branding of the nonprofit?

Can the CEO of the for profit be on the Board of Directors for the nonprofit?

Appreciate any help or advice! Specific details (and/or examples) as to how this could be legally accomplished would be ideal!

Thanks,

Jessi
 


FlyingRon

Senior Member
Yes you can do this. Yes the boards can overlap. You'd be well advised to have a lawyer set up the corporation and prepare the necessary IRS documentation to obtain the tax exempt status. It's hardly something we can walk you through over the internet.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top