Questions

We need to transform our company to a non-profit organization. What steps do we need to take to change our company while protecting ourselves?

We're Canadian base and only operate in Canada.

3answers

My recommendation would be to speak with a qualified attorney and accountant on this.

For profit or "non-profit" in the end is really just a tax category (think of the NFL in the USA -- it's a "non-profit" entity -- I just read the NFL commissioner makes $29 million a year).

Either type of entities will need to drive revenue and will have expenses.

Always curious of the people saying they "need" to do this.

Focus. #deliver

- mike vizdos


Answered 5 years ago

Depending on Canadian law, you will most likely need to close your business and establish a Non-profit. They will need to be two separate entities if you want to do tax deductible donations.

Are you worried about protecting your IP? Your customers? I would need to know a little bit more about what you are trying to do in order to give you a more in depth answer.


Answered 5 years ago

My first question is why are you wanting to switch to a non-profit model? I raised over a million dollars in Canada for the Blind and I didn't have to become a non-profit to do it. If you partner with the organizations who have a name why start something brand new?


Answered 5 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2019 Startups.com LLC. All rights reserved.