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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 995
Experience:  Certified Public Accountant
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I am in the early stages of forming a 501c3 public charity

Customer Question

I am in the early stages of forming a 501c3 public charity using the IRS Form 1023EZ and I just noticed on the form that I can use a trust as my Organization Type. I already have formed a C corp, but since I have been forming and using Land Trusts for many years (Florida type), perhaps I would be better off to use such a familiar structure here as well. I wonder as to the pros and cons of each structure. Your comments would be appreciated.
John O
Submitted: 28 days ago.
Category: Tax
Expert:  Mark Taylor replied 28 days ago.
Hi, my name is Mark. I will be happy to help you with your questions.
Expert:  Mark Taylor replied 28 days ago.
A trust would need to be irrevocable. The assets would need to be irrevocably distributed for the charitable purpose.
Expert:  Mark Taylor replied 28 days ago.
A c corporation is more common for a non profit. A corporation can perform activities and enter transactions.
Customer: replied 28 days ago.
I am looking for a comparative information, not factual information. My initial request was for pros and cons as to using C Corp or a trust for a 501c3 formation. So far that has not been addressed
Expert:  Mark Taylor replied 28 days ago.
I understand. Please give me a moment.

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