Legal Question in Business Law in New Jersey
formation of non-profit - raising funds
we've been approached by a company about a fundraising opportunity. We will be incorporation our non-profit within days, then moving forward to 501c3 (which we know is a lengthy process)
We need to start getting corp sponsorship before March 1st, will be selling raffle tickets until October 31st and raffling off a large item on 10/31. Question: is it OK to raise funds and get sponsorship while 501c3 application is pending?
1 Answer from Attorneys
Re: formation of non-profit - raising funds
I read a scam all over this.
If you are raising funds for someone else who is legitimate, why are they not already a 501(c)(3) TEO? The fact that you need to incorporate to help sounds very strange.
I think that you should have a lawyer near you look into the deal before you get burned.
BTW, selling lottery tickets is governed by NJ law and you will need a permit to do that. Township approval is required. You can get the application at your municipal building.
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