In this podcast episode, we'll explore a topic that may seem confusing: can an LLC be a nonprofit? Many people assume that only corporations can be structured as nonprofits, but it turns out that LLCs can qualify as nonprofit organizations too. As we'll learn from the insights provided by experts in the industry, forming a nonprofit LLC requires following a specific set of rules, including requirements regarding the purpose of the company, the membership structure, and the use of assets in the event of dissolution. We'll dive into these rules and discuss the pros and cons of forming a nonprofit LLC versus a nonprofit corporation. Whether you're an entrepreneur or interested in the nonprofit sector, this episode will provide valuable insights into a little-known aspect of the business world.
Read more about nonprofit llcs HERE:
- https://www.americanbar.org/groups/business_law/resources/business-law-today/2017-march/nonprofit-llcs/
- https://www.wagenmakerlaw.com/blog/llcs-and-nonprofits
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