I was merely going off of experience with chatting with another organization: Freecycle whose bills were estimated to be about $5k and ended up being more like $20k. Not to mention my own immigration experience where a $50.00 TN1 Visa quickly turned into a $10,000.00 TN1 visa because of complications...ah the complications of the law and the government.
And let me tell you that the $20k happened because Freecycle, much like Coworking, was a small pieces loosely joined starfishy like group of local freecycles who all wanted to get involved in the 501c3 process to make sure it was fair to all (various countries, locals, etc.). I'm pretty sure we have the same issue (unless we trust one person - Alex? - to do all the work on this, which leads me to the question - why create an organization at all and, instead, just trust that same person to hold the coworking.com site and hosting?). T On Tue, Feb 23, 2010 at 3:04 PM, Anthony Sorace <[email protected]> wrote: > I've been lurking on the list for a while, and have been following all the > "entity" threads with fascination. I think the combination of initiative and > questioning is great; I wish the other place I'm dealing with similar issues > had a balance more like this. > > A little bit ago, Tara said: > > Reminder that 501c3 or whatever non-profit status ironically costs about >> $20k after filing and legal fees... >> > > > I'm a bit skeptical about this. I happen to be working on forming a US > non-profit for something totally unrelated, and this is dramatically higher > than anything I've seen. Estimates for having a full-service legal shop do > everything from drafting by-laws through 501c3 certification (which isn't > the same as simply forming the non-profit) seem to be around $5,000. The > exact fees vary state by state, but all the actual government fees combined > should still be well under $1,000, at least until your gross receipts exceed > $10,000 (and then they go up only a few hundred, at least until the fee > structure changes (for the better) some time later this year). > > Could that $20k include administrative staff or ongoing costs? There's also > an obvious trade-off between time and money here: you can pay money to have > someone with experience do things much faster. > > Anthony Sorace > Strand 1 > > -- tara 'missrogue' hunt Book: The Whuffie Factor (http://www.thewhuffiefactor.com) Blog: HorsePigCow: Marketing Uncommon (http://horsepigcow.com) Twitter: http://www.twitter.com/missrogue phone: 514-679-2951 -- You received this message because you are subscribed to the Google Groups "Coworking" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/coworking?hl=en.
