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Peter, Financial Advisor
Category: Finance
Satisfied Customers: 58
Experience:  Masters of Professional Accountancy and Certified Financial Planner
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I want to start a non profit/not for profit business and it

Customer Question

<p>I want to start a non profit/not for profit business and it will be started in Wisconsin but need it for nationwide non profit. the following questions for a Wisconsin Financal Expert please: </p><p>1.) What does non for profit mean I'm starting a memorial chapel that I want to take nationwide is this what I need. </p><p>2.)   If we become non for profit will it cover us in all states? </p><p>3.) Can we file for none for profit once we have filed for the trade mark on the name or do we have to wait until the trademark is a given? </p><p>4.) What is involved tax wise for a non profit </p><p>5.) What are the advantages of being non for profit. </p><p>6.) How do we start the process of becoming non for profit and what is the costs involved </p><p>7.) What about health insurance coverage for those that are involved? Are there any things I need to be aware of or need to know that you can help me with. </p><p>Thanking you in advance</p><p> </p><p> </p>
Submitted: 6 years ago.
Category: Finance
Expert:  Peter replied 6 years ago.

Peter :

Non profit status is granted by the IRS for charitable, religous, and benevolent purposes under section 501 c 3 of the internal revenue service code. You do not have to have a trademark on the name before you apply for non-profit status. Non profit status means that the profits from the business do not go to the owners of the business, but are retained by the organization for their charitable purposes. Health insurance can be provided for employees of the non-profit.

Customer :

Please sir; will the non-profit cover us nationwide?

Customer :

Where do you go to get health insurance for non-profit employees?