You may be in the Green Bay, Wisconsin area and interested in starting an organization involved primarily in educational, scientific, religious or other charitable endeavors. In this case, you may want to consider establishing a non-profit corporation. A non-profit corporation provides the same liability protections and tax advantages that are associated with standard corporate organizations and establish legal protections to protect you and your Directors’ personal assets.
PROS & CONS OF NON-PROFIT CORPORATIONS
Non-profit corporations enjoy some special advantages. Pursuant to their status, non-profits are eligible to receive, Federal, State and Foundation grant monies and other favorable treatment.
However, there are some disadvantages in forming a non-profit organization. There is an increased burden of paperwork and corporate formality to be followed when establishing a non-profit as opposed to other business forms, such as a limited liability company. If such formalities are not followed, then the fundamental advantage that one gains from establishing a non-profit (limited liability) may not be available to the organizers and the Directors in the event that a lawsuit is commenced.
If you are interested in consulting with an attorney to determine whether a non-profit corporation is appropriate for your organization; and for assistance in preparing the extensive paperwork and filings needed, please contact Attorney David Daul at the law firm of Wanezek & Jaekels, S.C.,[email protected] or by telephone at 920-437-8191.