David -

What DISADVANTAGES have you considered of becoming a nonprofit?

On Tuesday, September 1, 2015, David Evans <[email protected]> wrote:

> We are starting a rural southern Vermont coworking space in a town called
> Brattleboro with 12,000 people and six colleges in the area.
>
> Our lawyer has recommended that we become a 501(c)(6) organization.
>
> Much of the relevant information I've seen here is from 2010- 2012. We're
> looking for more recent feedback.
>
> We feel like a non-profit makes the most business and social sense and is
> the best solution because:
>
> The founding group isn't doing this for immediate profit. We all have
> startup consulting gigs or Economic development-related jobs.
> Our core team will be replaced after a year.
> Expenses similar to profit projections.
> Corporate sponsors will help with rent and other things like printer
> stations.
> Individual donors can donate via local college to realize donation
> write-off benefits.
> We have access to some grant money as well (local nuke plant closed, area
> receives $2M/year for five years to ease burden of so many people and so
> much money leaving town).
>
> We're open to other options of course but before we spend $1,000 to become
> official and start taking pre-memberships, I want to make sure we're on the
> right track. Thanks for your feedback.
>
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