Hobby that has grown into something more seeks advice on making it formal.
May 14, 2006 8:03 PM Subscribe
My husband, a friend and I have started a community theatre group. We're in the midst of our first show, and we've gotten great publicity and we're getting healthy first-time audiences. We want to keep doing this, but we think we need to incorporate (become an LLC, LLP, something) before we get in too far. A lot . . .
posted by Medieval Maven to law & government (4 answers total) 1 user marked this as a favorite
The long of it is this: our current run is basically a test to see how things will go, and things have gone extraordinarily well. We are operating under the auspices of a particular city at the moment, and futhermore, we are using the grounds of a local historic building for the shows. We are taking donations, but with the caveat that they are going to the upkeep of the building/grounds and possibly to future shows (That is, the $$ goes directly to the historic building people, and then we get back what they want to give us in the form of a stipend, maybe. We aren't guaranteed anything as yet.)
However, given that things are going quite well and we want to remain independent and not tied to this particular city government, we want to possibly incorporate and/or become a 501(c)(3). We have the very good possibility of pro-bono legal work for any of this, so the cost of that isn't necessarily an issue. The issue is that we're not 100% sure what the best choice will be for a three-person operation that will decidedly NOT make money for the foreseeable future. Also, people keep offering us money/services and we want to be able to take advantage of that -- seems as if we would want to be a nonprofit, but I'm just not sure that this is the best choice for the long run, and I'm under the (possibly mistaken) impression that we really only want to have to do this once. We are, in short, looking for information about doing this kind of thing (I've read the IRS stuff on 501(c)(3)) and any practical, nonbinding, clearly not-offered-as-legal-advice information on how we might like to proceed.