We are a direct mail coupon magazine (for profit) that would like to form a separate non profit company

Non-Profit Business 5 views 4 answers
We would like to set up a charity. Our coupon magazine company will donate money to the charity and the charity will donate the money to individuals. Are there any restrictions when the same owners own a for profit and charity organizations, can we donate money without any restrictions, can we draw salaries from both companies?

Attorney Answers

4
Judy Goldstein ·
This is a simple online Q&A forum. You need the assistance of an attorney who handles business organizations, including NFP entities. This forum is not adequate for your needs.
0 upvotes
Robert Shipley ·
I would recommend you contact a local attorney whose scope of practice includes representing non-profits, so you can discuss the details and be provided with your options.
0 upvotes
Thomas Moens ·
You most certainly need to consult with a business law attorney with significant not for profit organization experience. Trying to structure something as complex and fraught with pitfalls as this by relying on the exchange of a few words on a simple question and answer forum is not a terribly wise business plan.
0 upvotes
Markus May ·
Generally speaking, what you want to do can be done. However, charities aren't "owned" in the traditional sense and property can only be used for specified purposes. You will likely want to hire an attorney to help set up the non-profit entity.
0 upvotes

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