QUESTION
What is the best way to form a non profit that can still perform for-profit functions?
Asked on Jul 06th, 2015 on Business Law - Texas
More details to this question:
We are looking to form a non-profit (501c3) in order to be able to accept donations in order to provide services to low income disabled individuals. The same owners also intend to run a for profit doing something similar to assist with the costs of running and maintaining the non profit. Is there a way that we can structure our business to be hybrid of sorts where we can be for profit for some services and a non profit for others?
1 ANSWER
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No. You will need to set up two different orgainzations and the funds from one should not be shared with the funds of the other. The for profit can contribute to the nonprofit.
Answered on Jul 08th, 2015 at 8:00 AM