shoutstudio
Junior Member
What is the name of your state?What is the name of your state? California.
Hi,
I have a question about setting up a non-profit vs. a for profit corporation.
My question is this:
Is it possible for a non-profit to run a for profit corporation? I was reading an article in the Hollywood Reporter of the company that makes the Firefox web browser. The pertinent paragraph to the article reads like this:
"Firefox is a product of the Mozilla Corporation, a taxable subsidiary of the Mozilla Foundation non-profit software development organization."
I run a film festival and was thinking of making it a non-profit, but I also do seminars that I want to run under the non-profit and want this to be the for profit part of the business.
Can I do the same thing as the Mozilla Corporation?
The reason I want to make the festival a non-profit is to be eligible for local government grants in Los Angeles, who give monies to non-profits to assist with their ventures. I also know other organizations who give grants, but you have to be a non-profit to receive these type of grants.
Any clarification or suggestions would be appreciated.
Kindest,
Chris
Hi,
I have a question about setting up a non-profit vs. a for profit corporation.
My question is this:
Is it possible for a non-profit to run a for profit corporation? I was reading an article in the Hollywood Reporter of the company that makes the Firefox web browser. The pertinent paragraph to the article reads like this:
"Firefox is a product of the Mozilla Corporation, a taxable subsidiary of the Mozilla Foundation non-profit software development organization."
I run a film festival and was thinking of making it a non-profit, but I also do seminars that I want to run under the non-profit and want this to be the for profit part of the business.
Can I do the same thing as the Mozilla Corporation?
The reason I want to make the festival a non-profit is to be eligible for local government grants in Los Angeles, who give monies to non-profits to assist with their ventures. I also know other organizations who give grants, but you have to be a non-profit to receive these type of grants.
Any clarification or suggestions would be appreciated.
Kindest,
Chris