Cohousing-L Mailing List: Re: for-profit entity

[Willie Schreurs (willie]

Howard

You could talk to someone just up the road, here at Greyrock Commons.  I don't
know the full details, but I could give you a couple of names privately if
you're interested.

We've set up an entity called Uncommon, Inc. (which is a wholly-owned
subsidiary of the HOA) to handle the cash flow for the meal program, the LAN,
the office, and a few other things.  Strictly speaking, the HOA is not a
"non-profit" in the 501(c)3 sense, but some of the things we do (like meals)
don't fit well into a HOA budget and are best dealt with separately.  Hence,
Uncommon, Inc.
----------------------------

Howard Landman wrote:
> 
> Hi,
> 
> We at River Rock are looking at setting up the "for-profit entity" that
> will comprise all the activities in which a non-profit is not allowed to
> engage.  So for example, our LAN service, our TV service, etc. will have
> to come under this.
> 
> My question is, how have other communities dealt with this?  What legal
> steps did you have to go through and what form of organization did you
> choose and why?  We've considered various alternatives from just opening
> a separate bank account to getting a taxpayer ID to incorporating in one
> of several ways.  What are the good and bad points of each?
> 
> It might be most effective if answers were sent to me in private email
> and I summarized to the list, but of course feel free to post if you
> feel it's of general interest.
> 
>         Howard Landman


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