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If you don't plan on taking money-save time and opt for fiscal sponsorship. It boils down to an existing non profit allowing your operation to borrow its federa
by Rhodee 16y ago
If you don't plan on taking money-save time and opt for fiscal sponsorship. It boils down to an existing non profit allowing your operation to borrow its federal EIN and you getting the benefits of being a non-profit. You will still need to create a board and do all the other stuff-just later. They also charge. I've worked @ "projects" that were sponsored that charged 7-10% for the sponsorship. It often included all the back-end stuff.
I'd opt for an LLC and then consider becoming a "B-Corp" (look it up). It sounds like the technology may have a business model in the future. If you want to be part of it as a founder-and not an employee-don't opt for the non-prof route.
Ping me if you've got q's.