Legal Question in Business Law in Florida
Informal Organization in lieu of Non_Profit Corp
Would like to implement a community service project. Do not want to become a formal non-profit. Will rely on volunteer crafters from around the US to undertake the actual creation of the craft item for children's hospitals.
1. Understand an alternative to formal corporation is an informal organization. Can this be formed by just filing a fictitious name & licensing as a sole proprietor?
2. Can I accept donations to help with costs, if I disclose that I am not a non-profit or a public charity? (I do realize that donations would not be tax deductible for giver, and I would have to pay income tax on it.)
Thank you for your assistance!!
1 Answer from Attorneys
Re: Informal Organization in lieu of Non_Profit Corp
You lose credibility if you aren't more established and people will wonder what is happening with the money. You also will not have limited liabily. Let me know if you change your mind.
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