Date: Mon, 3 Apr 2017 12:58:13 +0000
Reply-To: Paul Freese <freese.paul@YAHOO.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: Paul Freese <freese.paul@YAHOO.COM>
Subject: Re: Advice about setting up Vanagon.com as a 501c3 Non-Profit
In-Reply-To: <181da1df.16.15b3084778c.Webtop.49@jhl.mgacoxmail.com>
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I organized my company as a sub chapter S corporation (for profit). Some of the "advantages" are you can sell shares to investors and profits beyond wages and/or salaries is not subject to payroll taxes. You are required to have officers (president, VP, secretary, treasurer) keep minutes....
My slightly qualified opinion is to form an LLC to keep it simple. You could have a lawyer draw it up or do it yourself via a service like legal zoom. The LLC would provide a "corporate veil" to protect you from any liabilities arising from crazy vanagon owners holding you responsible for advise leading to the burning of their very expensive van (or worse). Good luck!
Paul
Sent from Yahoo Mail on Android
On Sun, Apr 2, 2017 at 4:14 PM, John Lauterbach<john@JHL.MGACOXMAIL.COM> wrote: My LLC (scientific consulting) is a member of a US Technical Advisory
Group (TAG) to an ISO Committee. Since TAG collects dues from its
members to pay dues to ANSI and other financial obligations, it is
incorporated as a business league in North Carolina. My understanding
is that the paper work including Fed Tax reporting is very simple.
John
On Sat, Apr 1, 2017 at 10:53 AM, Paul Freese wrote:
> I agree with Jim. One could organize as a not for profit without
> 501(c)(3) status. Less headache and scrunity. As Jim stated, you
> would be ineligible for most grants and donors would not be able to
> write off donations to your organization...
> Paul
>
> Sent from Yahoo Mail on Android On Sat, Apr 1, 2017 at 8:29 AM, Jim
> Felder<jim.felder@GMAIL.COM> wrote: I work for a 501(c)(3). I am the
> director. There are other ways to organize
> that don't require so much work and expense--you have to have a board
> of
> directors, keep minutes of meeting, have an executive director, etc.
> in
> order to be able to handle the money for grants, which you probably
> don't
> need. There is a lot of scrutiny involved, and people think it allows
> you
> to be tax-free but that is not so. Be able to describe what you want
> to do
> and how you want it to work and you will probably find that there is a
> much
> easier way than a 501(c)(3).
>
> Jim
>
> On Sat, Apr 1, 2017 at 8:21 AM kenneth wilford (Van-Again) <
> kenwilfy@comcast.net> wrote:
>
>> I want to set Vanagon.com as a Non-Profit for Education Purposes. I
>> think
>> I can do this as a 501c3 but I wanted to see if anyone has any
>> experience
>> or advice on this. I have been doing research and it is complicated
>> and
>> harder than you would think. I would probably need to hire a lawyer
>> for
>> advice and to be sure it is set up correctly. I don't want the IRS
>> showing
>> up at some point and shutting things down, etc. If you can give me
>> some
>> advice or direction on this I would appreciate it.
>>
>> --
>> Thanks,
>> Ken Wilford
>> John 3:16
>> www.vanagain.com
>>
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