Should You Become a Non-Profit?
The real answer is – It Depends. But the answer is probably œNO for 90% of the people who read this information. The important thing to find is the money you need to do what you want to do in life. If someone will only give you the money if you are a non-profit, then go become a non-profit. That is not a real big deal. Your local Small Business Development Center will help you with this. These offices can be found by contacting your state office of Economic Development, located in your state capitol. You do not have to spend thousands of dollars on legal help to become a non-profit. With the free help that is available to help you fill out the forms, it is just as easy for you to make a mistake in filing out the forms and have the IRS tell you where you went wrong than to spend $200 an hour to have a lawyer make the mistakes for you.
A lot of government grant money goes to business as well as to non-profits. If your main goal is to help less fortunate groups in our society than there will be a lot of programs that offer money only if you are a non-profit. But if you main mission is to supply a product or service in exchange for getting money from consumers or businesses then 90% of the government grant money available will not require you be become a non-profit
If you are unsure about being a non-profit, forget about making this decision until you find a source of money that you think would be right for you. . If that source requires you to be a non-profit, then become one. The key to success is finding the source for money. don’t waste your time on unnecessary details until you have to.