#126: Non-profit corporation: How can I create/transform my business?

Season #1

Josh and Amelie continue their discussion about non-profits. Whether you’re starting a new company or transforming an existing business into a non-profit, there are some steps to follow!

Top things to think about:

  • The basic steps are to form a corporation and then go through the steps of turning that corporation into a non-profit.
  • 501c3 is one option and probably the most likely for most coaches, but there are other options as well.
  • There are far stricter rules around naming a corporation.
  • Hiring a lawyer to write your bylaws and articles of incorporation will be much faster and efficient–and will probably save you time and money in the long run.
  • You’ll need a board of directors and they need to be representative of the “broader community.”
  • Then you send things off to the IRS, probably get rejected, fix things, then resubmit.

Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: