Nonprofit vs For-Profit: Which should I start?

[@nataliarodriguez6340]

Non-profit: assets in nonprofit have to stay in the nonprofit space for-profit: assets can leave and go to shareholders

[@GitMunny1]

You just saved me countless hours of research. Thank you kind sir!

[@Aplos]

Glad to help!

[@bugattibezzy2927]

Thank you, for no holding on to information. You just earned the new subscriber!

[@TheNerdRapper]

the best explanation I've heard!

[@lnkinc6823]

Thanks for the video. I need to see if anyone can guide me to where I can speak with someone in more detail on advice for which one or other options I should go with ? Thank you for any suggestions !

[@GenkiHagata]

This was super helpful in deciding which to pursue. Thanks!

[@brandonisem7657]

Moral of the story: Buy more beans

[@mulllhausen]

Or gold if that is the mission statement

[@Jimmy58261]

@@mulllhausen no beans

[@bolaelie6771]

Thank you so much. Very clear and simple

[@through-the-noise]

Dude this is incredibly helpful; thank-you!

[@randy9046]

Can you change the mission of the non-profit corp? Where you want to go from beans to advertising/public speaking?

[@jessiejesenia5384]

This is was helpful and direct, how all videos on youtube should be. God bless you & thank you.

[@fasttrackcreditconsulting628]

Thank you so much for the great info. Can a nonprofit organization be an LLC or can it be only Inc? Also, which tax exempt IRS form goes for the 501c3? Is it 1023 or 1023 EZ? Thanks.

[@smalladventures2454]

❤❤❤ thank you God bless I need to hear this today 😊

[@robindefleice9628]

Thank you so much, your video gave me a lot to think about.

[@priceizrght]

Thank you so much for this breakdown!!

[@ArielleGary]

First, thanks so much for your information! I would love to have your thoughts on my situation. I'm a speaker and I focus on elementary schools. But I have been asked by parents and some schools about a mentoring program, or curricula. It was suggested to me to start a Non Profit and place that programming under that Non Profit. Not sure what your thoughts are, but I'd love some feedback on why this could be a good idea or a bad idea. Thanks in advance! (Hoping that you respond!)

[@king0vdarkness]

Please may I ask whether this applies to USA only or UK too?

[@Salesman]

What would a sports promoter be considered? I'm which they have to get sponsors and also rent out venues and production crews to produce something like a boxing event? Are those non profit or for profit startups?

[@Tazzypoo821]

Do we have to sell tangible GOODS.

[@ashockablack1670]

Is a charity consider" For profit?"

[@amessenger3208]

Thanks - well spoken

[@dogchronicles3058]

I am trying to open a business in loving memory of my daughter who I lost at 31 weeks this past January 2020. She was born sleeping. I out her footprints on a mug and it was so pretty I thought it maybe a good business to start. She now has her shop on Etsy, and the goal is to give 20% of the sales to organizations that help parents that lost babies like me. I cannot give 100% of the profit but maybe 20% depends on the sales because it cost money and time to make the mugs. Would this be considered a profit or not profit is I donate 20% but keep the rest to pay for supplies and my salary ? Thank you!

[@happinesscourt5809]

Anna Chico I’m so sorry for your loss!!

[@MoviesAreMyThing]

Were you ever able to figure this out? Im curious - I know a decent amount of mamas who have lost their little ones, some having been born sleeping as well. I think having the mama take a high quality photo or scan of their footprints would be such an easy way to get to you for you to then place on different items and its 100% unique to them. Very touching concept!

[@TMason]

This would still be considered profit. Just profit that also benefits other communities. Thank you for your work!

[@LiveNaturallyLove]

VERY HELPFUL!

[@letsgetrealministries476]

So a nonprofit org can pay a salary to an owner and still be considered a nonprofit? That’s what I’m confused about. My husband and I are starting our own ministry doing public speaking events, marriages, etc... and are eventually wanting it to be our full time job. If we pay ourselves a salary the ministry can still stay as a nonprofit?

[@letsgetrealministries476]

@DrDJSHAD3 Thank you. We are submitting our articles of inc this week.

[@afroteen4647]

Theres no owner in a Nonprofit

[@rhemnant]

🐐 Big o thanks

[@hyojinlee]

Thank you for this video!!

[@m.j.mcintear793]

Would love a update on this now that all llc has to

[@turbojorge]

Is it possible to convert a profit to a non profit?

[@Aplos]

Generally speaking, all nonprofits start as a for profit corporation when they are formed, then they apply for tax-exempt status by filing their Form 1023. Corporations that have been operating as a for profit entity can apply to change their model to non profit, but it helps to work with a nonprofit expert to navigate the process.

[@bsa2506]

Yes totally legal😊

[@nurseannesinspirationalwellnes]

Thanks 🙏🏽

[@jenneiseembry9370]

can you have both

[@christianhernandez9386]

Is it possible to talk to someone for help?

[@Aplos]

Hi Christian, what are you needing help with? You can check out our channel for other videos on forming a nonprofit, or www.aplos.com/academy for tips on nonprofit management and finances. If you need help with formation of a nonprofit, we have partners on our site that can help you through the process: www.aplos.com/find-an-accountant

[@jessicaj2017]

Thank you

[@maxnicastro3088]

Could I shoot you an email explaining which path I should be going down. Non or for profit...quickly, I’m a retired professional hockey player and I exercise shelter dogs on my rollerblades. I have 5 shelters I skate and it’s going well but I need some guidance.

[@suewolmarans6195]

Thank you, very helpfull

[@fdtirving]

Can you build a for profit business/organization with donations like how you can with a non profit?

[@AbdullahNaseerHayRee]

i believe u can but then people will be reluctant to offer donations.

[@dereksavage8728]

People don't get tax write-offs for for-profits and the organization has to pay taxes on the raised funds

[@UniversalMysticsOfChrist]

What if upgrades are needed? Can the old equipment be sold to get funds for deposit on new equipment?

[@pedroramires5049]

Im about to do for profit organization real estate for low income people that want to rent or buy

[@StandingForChrist]

Thank you for your videos. God bless!

[@Aplos]

My pleasure!

[@adrienneprince4622]

Why did they WANT to go for-profit?

[@user-co5wg7ru7j]

Thank you so much

[@forever_golfer1981]

Bill Gates takes a $40 billion salary lol

[@Paul-cb7cc]

Beans, beans, the musical fruit. The more you eat, the more you toot.

[@sleepingatdisneyland778]

So if I heard this right, a non-profit owner CAN make money or a salary? correct?

[@oscarsilva4529]

Yes,

[@beachlife7]

except he/she is not an "owner". They would be an employee or independent contractor. Any earnings would be on a 1099 or W2.

[@Believefor]

I am going to be a profit organization Will be more generous than these nonprofits