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INFOLAWYER
INFOLAWYER, Attorney
Category: Business Law
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Experience:  LICENSED BUSINESS LAWYER
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I am a founder of one non profit. I want to start another similar

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I am a founder of one non profit. I want to start another similar nonprofit. then I will close the first non profit. is this legal? Can there be any issues. Both will be corporations and both will be 501c(3). In order what order should I accomplish this? Will there be any other legal issues in starting a similar non profit while on the board of another?
Submitted: 8 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 8 years ago.
You can have more than one non for profit operating and be involved with more than one. The only limit is that you cant try to close one and open another to avoid creditors as then creditors will pursue you.
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