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Nonprofit vs For-Profit: Which should I start?
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- Опубликовано: 18 сен 2017
- Discover the different operations of a nonprofit vs for-profit organizations. Then, learn whether or not your business model should be moved forward as a for-profit company or a nonprofit organization.
Interested in taking our free 5-day accounting course for nonprofits? Sign up here: www.aplos.com/academy/nonprof...
Non-profit: assets in nonprofit have to stay in the nonprofit space
for-profit: assets can leave and go to shareholders
Thank you, for no holding on to information. You just earned the new subscriber!
Moral of the story: Buy more beans
Or gold if that is the mission statement
@@mulllhausen no beans
the best explanation I've heard!
You just saved me countless hours of research. Thank you kind sir!
Glad to help!
This was super helpful in deciding which to pursue. Thanks!
Thank you so much, your video gave me a lot to think about.
Dude this is incredibly helpful; thank-you!
Thank you so much. Very clear and simple
Thanks for the video. I need to see if anyone can guide me to where I can speak with someone in more detail on advice for which one or other options I should go with ? Thank you for any suggestions !
Thank you so much for this breakdown!!
VERY HELPFUL!
❤❤❤ thank you God bless I need to hear this today 😊
This is was helpful and direct, how all videos on youtube should be. God bless you & thank you.
Can you change the mission of the non-profit corp?
Where you want to go from beans to advertising/public speaking?
Thank you for this video!!
Thank you so much for the great info. Can a nonprofit organization be an LLC or can it be only Inc? Also, which tax exempt IRS form goes for the 501c3? Is it 1023 or 1023 EZ? Thanks.
Thank you so much
Thank you for your videos. God bless!
My pleasure!
What would a sports promoter be considered? I'm which they have to get sponsors and also rent out venues and production crews to produce something like a boxing event?
Are those non profit or for profit startups?
Thank you, very helpfull
Please may I ask whether this applies to USA only or UK too?
Would love a update on this now that all llc has to
First, thanks so much for your information! I would love to have your thoughts on my situation. I'm a speaker and I focus on elementary schools. But I have been asked by parents and some schools about a mentoring program, or curricula. It was suggested to me to start a Non Profit and place that programming under that Non Profit. Not sure what your thoughts are, but I'd love some feedback on why this could be a good idea or a bad idea. Thanks in advance! (Hoping that you respond!)
Do we have to sell tangible GOODS.
Is a charity consider" For profit?"
Thanks 🙏🏽
Thank you
🐐 Big o thanks
So a nonprofit org can pay a salary to an owner and still be considered a nonprofit? That’s what I’m confused about. My husband and I are starting our own ministry doing public speaking events, marriages, etc... and are eventually wanting it to be our full time job. If we pay ourselves a salary the ministry can still stay as a nonprofit?
@DrDJSHAD3 Thank you. We are submitting our articles of inc this week.
Theres no owner in a Nonprofit
I am trying to open a business in loving memory of my daughter who I lost at 31 weeks this past January 2020. She was born sleeping. I out her footprints on a mug and it was so pretty I thought it maybe a good business to start. She now has her shop on Etsy, and the goal is to give 20% of the sales to organizations that help parents that lost babies like me. I cannot give 100% of the profit but maybe 20% depends on the sales because it cost money and time to make the mugs. Would this be considered a profit or not profit is I donate 20% but keep the rest to pay for supplies and my salary ? Thank you!
Anna Chico I’m so sorry for your loss!!
Were you ever able to figure this out? Im curious - I know a decent amount of mamas who have lost their little ones, some having been born sleeping as well. I think having the mama take a high quality photo or scan of their footprints would be such an easy way to get to you for you to then place on different items and its 100% unique to them. Very touching concept!
This would still be considered profit. Just profit that also benefits other communities. Thank you for your work!
can you have both
Im about to do for profit organization real estate for low income people that want to rent or buy
Why did they WANT to go for-profit?
Could I shoot you an email explaining which path I should be going down. Non or for profit...quickly, I’m a retired professional hockey player and I exercise shelter dogs on my rollerblades. I have 5 shelters I skate and it’s going well but I need some guidance.
What if upgrades are needed? Can the old equipment be sold to get funds for deposit on new equipment?
Can you build a for profit business/organization with donations like how you can with a non profit?
i believe u can but then people will be reluctant to offer donations.
People don't get tax write-offs for for-profits and the organization has to pay taxes on the raised funds
Is it possible to convert a profit to a non profit?
Generally speaking, all nonprofits start as a for profit corporation when they are formed, then they apply for tax-exempt status by filing their Form 1023. Corporations that have been operating as a for profit entity can apply to change their model to non profit, but it helps to work with a nonprofit expert to navigate the process.
Yes totally legal😊
Is it possible to talk to someone for help?
Hi Christian, what are you needing help with? You can check out our channel for other videos on forming a nonprofit, or www.aplos.com/academy for tips on nonprofit management and finances. If you need help with formation of a nonprofit, we have partners on our site that can help you through the process: www.aplos.com/find-an-accountant
Beans, beans, the musical fruit. The more you eat, the more you toot.
So if I heard this right, a non-profit owner CAN make money or a salary? correct?
Yes,
except he/she is not an "owner". They would be an employee or independent contractor. Any earnings would be on a 1099 or W2.
I am going to be a profit organization
Will be more generous than these nonprofits
Bill Gates takes a $40 billion salary lol