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Anonymous
Anonymous asked in Business & FinanceSmall Business · 1 decade ago

I want to start a Non-Profit organization and use profitable businesses to help fund it. Is this possible?

3 Answers

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  • A F
    Lv 7
    1 decade ago
    Favorite Answer

    Yes in a couple of ways. Go to the website for your secretary of state www.(ST).gov and click secretary of state. incorporate as a nonprofit (easy to do), then apply for feederal nonprofit status (501c3) which you can do yourself but a lawyer is helpful or get an existing nonprofit to back you till you get your own nonprofit status.

    Then you can ask existing for profit businesses to support you as sponsors or create profitable businesses to support it. For example a drug rehab place near us that is a nonprofit gets old cars donated, teaches the guys in the treatment program to fix them and sells them for money to support the program. Another nonprofit we know has a cafe where they train ppl who are out of work to do all the different jobs, They operate on same basis as anyother cafe and have very good food and decent prices. The money goes to support the ministry after the ppl who work there get paid. Another ministry I know of has a landscaping service that supports the ministry. There is a zoo here that supports nmal rehab. You'll want an accountant to set the buisinesses up for you and show you how to do the books so it can be obvious that the money made goes to support the nonprofit.

    Source(s): director of 2 nonprofits one of which is supported by contract work for a for profit business.
  • 1 decade ago

    Yes. A For-Profit corporation can donate to Non-Profit charitable corporations. This is one source: http://snipurl.com/1fqjr

    Use the search term Start Non-Profit Corporation on the internet and you will find many more.

    The process and cost are the same as forming a For Profit (C) corporation. You will have to apply for tax exempt status from IRS as described at the above site.

  • Anonymous
    1 decade ago

    Sure- just have the profitable business make donations to the non-profit.

    If you can register the non-profit as an authentic charity, the donor company can even get a receipt that it can save on its taxes with.

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