Nonprofit vs For Profit
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I often get asked from those who have yet to launch their business whether or not they should start a nonprofit or an LLC or for profit. It’s a great question because there are some distinct differences and just because you are wanting to build a business around a social cause doesn’t mean it has to be a nonprofit, but there are some benefits to 501(c)3 or nonprofit status. So, in this episode I’m giving an overview of the key differences so you are better equipped to make a decision on which one is right for you.
In this episode you will learn about:
- The difference funding sources and taxation laws
- The differences between the organizational structure and what that means for your intellectual property and control over the organization.
- Implications for staff and volunteers.
Check out my free masterclass at kotulo.com/startup
Join the facebook group at https://www.facebook.com/groups/kotulononprofitacademy