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3 Replies Last post: Oct 14, 2008 10:38 AM by GrowthCurve

for profit or non profit if I want to help the community?

Oct 13, 2008 11:51 PM

brillante 1 posts since
Oct 13, 2008

I want to help my community and I am leaning towards creating a non-profit organization, however I am concerned that I have bills to pay. I have a business degree, graduated 4 years ago and work for corporate america. My company is not looking so good and I might be unemployed soon, but I will receive a nice severance package. I come from an entrepeneurial family and I feel this is my chance to break free from corporate america. My real desire is to help others which is why I am considering a non profit organization. I have a business idea, but I don't know if I should create a for profit or non-profit business? I don't want to be rich, but the cost of living in southern CA is pretty high. I don't want to shoot myself in the foot. How can I find out more info about salaries for non-profits? Any advise or knowledge?

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LUCKIEST 7,912 posts since
Aug 6, 2007

1. Re: for profit or non profit if I want to help the community? Oct 14, 2008 6:55 AM

I want to help the community.

It would be nice to know your first name, but I will work around that.
If I have a business degree and wanted to help the community I would do the following.

Contact SCORE. SCORE is FREE
Develop a Business Plan
Find yourself a Lawyer and an Accountant.

Whether you form a Profit or a Non Profit, you still can draw a salary. That is why you need
to contact SCORE, Speak to both the Lawyer and the Accountant.

Best of luck, LUCKIEST

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Lighthouse24 2,396 posts since
Oct 10, 2007

2. Re: for profit or non profit if I want to help the community? Oct 14, 2008 10:34 AM

In my opinion . . . for profit. Obviously, I don't know you, so I hate to psycho-analyze your post (but it's all there is to base an answer on). You described your situation, wants, and needs in a very entrepreneurial/business-like way. For example, you used the words "I", "me", and "my" about 20 times (the people I've known who launched and managed sustainable non-profits never talked about anything except the "cause" and the beneficiaries, and were never the least bit concerned about their own well-being). That's not a criticism at all, by the way. Some of the wealthiest and most successful business owners in the world are also the most philanthropic. There are lots of platforms from which one can help others. Best wishes.

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GrowthCurve 152 posts since
Jan 25, 2008

3. Re: for profit or non profit if I want to help the community? Oct 14, 2008 10:38 AM

in response to: Lighthouse24

As far as I know, you can be a non-profit and still draw a market salary for yourself. You think the executives at the national non-profits are drawing $20,000 per year with no perks?

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ForumsStarting a Business

This Question is Possibly Answered

for profit or non profit if I want to help the community?

Oct 13, 2008 11:51 PM

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