Cohousing-L Mailing List: Re: non-profit status

[Steve Faber (steve]

Our group originally structured as a nonprofit (state, not federal  
501c3).  This was incredibly valuable in the beginning stages because  
we were given some breaks on rates, etc. that we struggled to afford  
in those initial years  However, we transferred our assets over to  
LLC when it came time to develop the project.  The final conversion  
will happen when we become a Homeowners Association.  We also have a  
partnership with a nonprofit who is serving as our project manager on  
the project.  There have been times that they have been able to use  
their nonprofit status to get us through doors more cheaply as well.   
Our accountant and lawyer helped us make the appropriate change, at  
the appropriate time in the most appropriate way.

Steve


On Jun 4, 2007, at 1:48 PM, Sharon Villines wrote:

> On Jun 4, 2007, at 12:09 PM, Lynette Bassman wrote:
>
> > We are a group in formation (starting construction
> > next month, with openings for more members) and have had to pass up
> > several opportunities for substantially lower rates for ads on
> > radio and
> > in print that are available to non-profits.  Also, we have been  
> > unable
> > to qualify for public service announcements on TV and radio when we
> > have
> > had special events.  It's probably wishful thinking, but I'd just  
> > like
> > to know if there is any precedent out there.
>
> Look at state requirements for incorporation as a non-profit. One
> group incorporated as a non-profit umbrella to further the cause of
> cohousing. They were open to helping several groups form and the
> umbrella had no vested interest as an organization in any of the
> communities. So you could organize such a group.
>
> It's a hard sell to make the argument that people who are building
> their own homes are a non-profit organization since each member
> stands to gain on a personal basis from their success.
>
> Sharon.
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