Cohousing-L Mailing List: Re: Setting up a For-Profit Entity

[Lynn Nadeau (welcome]

We have only nonprofit legal status, but nonetheless have operating 
budgets for our committees, capital improvements, etc. I think some 
groups have handled the common-meals part by calling it a "supper club" 
or such. I figure once our common house is functional , we can rent it 
out for a "recommended donation." 

We have a "tax ID number"--- didn't need to be a for-profit for that. 

I would question whether you need to get into a parallel legal 
organization such as you suggest. Professional input, from a lawyer, 
accountant, etc would be important, to hook in with your local/state 
laws. Rather than ask, "Do we need..." I'd take the tack of "How can we 
avoid..... and still be a nonprofit?" Nonprofits are also allowed 
"reasonable reserves" --- it's not like you can't have any money. What 
you don't need is unnecessary paperwork, tax liability, etc. 

Lynn Nadeau
RoseWind Cohousing
Port Townsend WA 
(where everything is in bud--- seems like we didn't even have a winter, 
it was so mild this year)