Legal Question in Business Law in New York

Not for profit changing to 503c?

We are a small, not for profit, co operative nursery school. With changing times, we are struggling to stay alive. We would like to change to a 503c, to seek larger donations - but are afraid of the can of worms it may open. How much does the state get involved with our program, ect...? We have a wonderful program, that has been run by the parents for over 50 years - we hate to see so much change. Any info. would be appreciated. Tahnks


Asked on 2/04/08, 7:59 pm

1 Answer from Attorneys
Nancy Delain Delain Law Office, PLLC

Re: Not for profit changing to 503c?

501(c)(3) certification is a complex and time-consuming process that will require the services of an attorney and of an accountant. It can be a very, very fact-specific process. You should work with professionals you hire to determine whether this route is the right one for your nursery school.

The attorney and accountant can be one and the same person; attorney/CPAs do exist! I'm not one of them, although I do handle 501(c)(3) certifications in collaboration with accountants.

Good luck!

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Answered on 2/05/08, 10:31 am


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