5 Things to Consider Before Registering Your Startup as a Nonprofit
CEO of Elite Legal Marketing
Nonprofit organizations are eligible for perks not granted to for-profit businesses. Those perks are designed to keep costs low so nonprofits can spend as much money as possible helping others. If you’re thinking about registering your new business as a nonprofit, you likely already have a business idea that fits the concept. Specifically, this means you would be seen by the IRS and consumers as a charitable organization.
Before you file your papers, though, it’s important to fully understand the pros and cons of incorporating as a nonprofit. It isn’t for everyone and you may find that the strict structure isn’t the right business model to fit your personal work style. Here are a few things to consider before you register your business.