Legal Question in Business Law in New York

I am a startup business owner of a youth services / programs LLC. I chose to go with the LLC instead of a non profit due to the affordability & legal structure. However, I am technically running as a non profit at the moment & am frustrated that I am unable to find help with funding. If I was a non profit it would be less of a problem.

Would it make the most sense to switch completely from an LLC to a non profit or apply for recognition of exemption under Internal Revenue Code 501(c)(3)? I am a struggling college student with very low income, so price is a bit issue.


Asked on 7/15/19, 1:50 pm

1 Answer from Attorneys
Frank Natoli Natoli-Legal, LLC

This all depends on how you fund this enterprise. There is certainly no out of the box answer for this.

I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section): http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

Read more
Answered on 7/15/19, 3:09 pm


Related Questions & Answers

More Business Law questions and answers in New York