2.
Re: NON PROFIT vs Profit Sep 7, 2009 5:22 PM
To receive a Non-Profit status this will take you approx. 18 months
PLUS you first have to have a Comedian Hall of Fame Board of
Directors (they would have a say to how the place is run) and
have held a business licenses for the place for one year.
The paperwork is unbelievable and numerous guidelines that
would prohibit your type of mission to be limited. However,
you can fall under someone elses 501 if you want to give them
a portion of the proceeds, again I would advice against this route.
I suggest becoming a profit Hall of Fame with a goal of forming
a non-profit subsitatary branch off of the Hall of Fame within the
next five years. As a branch non-profit you will need to have a mission
statement that balances the reason behind the non-profit.
Perhaps your non-profit branch provides "laugh"classes to troubled
teens Or perhaps the Comedian's Hall of Fame provides "Millions
of Smiles" to children of fallen soldiers (Millions of Smiles would
be the 501 for the Comedian's Hall of Fame).
GREAT concept, can't wait to visit...I have a vote for "Lucy" being
in the Hall of Fame!
Very Best to you!!!!!
