If i start a business as an LLC, Sole Proprietorchip Can i transition it into a Non-Profit 501 3 c later on?
Saturday, September 4th, 2010 at
10:16 am
With the same name, etc. I just wan’t control and shape it & give it my leadership, guidance & direction before i bring it into the non-profit world. I have been working on these ideas for 15 years now & i’m ready to get rolling. It will be a community service based organization designed to improve quality of life with global applications.
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It’s generally quite difficult to switch from a for-profit to a non-profit. It’s easiest to form a for-profit, and then later form a separate non-profit that cooperates with your for-profit.
Why do you need both, though? It’s almost as easy to form a non-profit as it is to form a for-profit. You’ll save money and effort if you have the organization you want from the beginning.
you can covert any organizational structure to any others; it affects you most if you seek
exemptions of tax obligations.
HOW do you plan on becoming an international red cross?