Nonprofit or For-Profit Business | Can You Have Both?

Nonprofit or For-Profit Business | Can You Have Both? // Can my nonprofit start another business? // Starting a business can be tough whether for-profit or nonprofit but what if you want to do both to sustain your purpose? Is it possible? In today's video I'll show you how.
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How to Start Your Nonprofit

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***Who is Ashlee Tate?***

Ashlee Tate is a Strategic Communications Consultant and self-proclaimed serial entrepreneur. Combining her skills in the areas of branding, event planning, public relations, social media, and strategic planning, Ashlee helps clients design a life and business they love ON purpose.

Ashlee holds a Bachelor's Degree in Healthcare Administration from California State University, Sacramento, and a Master’s degree in Organizational Communications and Leadership from Gonzaga University.

Her online business, The Socialife Diaries, provides group coaching to budding entrepreneurs and nonprofit founders. In addition, she provides face-to-face business consulting to her local community with the Shasta Cascade Business Development Center.

Since 2015, Ashlee has been the founder and executive director of LaunchPad 4 Kids, Inc., a nonprofit designed to provide children from underserved environments the opportunity to participate in extracurricular activities through crowdfunding.

As a veteran of the United States Army, Ashlee Tate is no stranger to teamwork, commitment, and community service. Over the past 11 years, during her time in Redding, CA, Ashlee has served her community by participating in various nonprofit organizations and boards including The Chamber of Commerce, United Way, and The Girl Scouts of Northern California. To highlight the community she loves, Ashlee created and co-hosted a local television show on the Public Broadcast Station KIXE Channel 9 in Redding, CA. The Forum ran for five years featuring ‘interesting people doing interesting things in the Northstate’.

Ashlee believes in the power of connection and purpose in everything she does. In between spending time with her husband and two children, Ashlee enjoys entertaining, traveling the world, or just reading a good book. You can see more behind the scenes and inspo on Instagram @ashleetate__

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***Watch These Videos Next***

#socialentrepreneurship #nonprofits #designyourlife

[ICUSocialWorker]

I own a C. Corp. A C. Corp is the only way you will get any big-time investors to invest in your business. They also require a C. Corp due to tax laws and the benefit to the Delaware C. Corp. Also, they must incorporate the Delaware C. Corp in the state of Delaware if they re seeking investment from investors. C. Corp provides stock options meaning you grant ownership to investors meaning they are more likely to invest in the business. They do not want to invest in an LLC which has no value to them in the end.

[salahuddinmuhammad]

I run a Japanese dojo and cultural organization since 1984. Since the pandemic, we have decided to try to do something in both the nonprofit and for-profit sections. Instructional materials, give seminars, teach cultural aspects, self-improvement programs. I just got over cancer and I am at a loss with my filing status. I was always a sole proprietor but I want that to change. I now have an international audience, so this video caught my attention. Thank you so much. I have a lot of research to do

[motleyassortment]

Why people make things so complicsted just so you can establish a company to help a cause of your choosing?!

If you privately fund everything yourself, probably less headache!

[DonovanPoole]

Ive listened to this video 3 times. This is EXACTLY what Im trying to do, and do. A "virtual call center" calling public lists, giving away beneficial financial information, and if they want the service, charging the fee to perform.

[michelleatmassagestudentpr]

Ashley, I've been following you for a year and NEEDED this video TODAY. Wow, speak of divine timing. Thank you!

[aliciamack]

I like this on non profit . This is something on volunteer work i have been getting into

[NikkiBee-xchg]

Hi Ashlee, omg thank you for this video. Ive been searching for ways to setup my museum as a non profit but also a for profit sector that sells food, memorabilia and more related to the museum in order to keep the museum sustained; you were the only one with a video that breaks down how the process works. So grateful. Im now searching for a lawyer for assistance in getting it set up.

[tnicolec]

Thank you soooo much for this information. I'm literally trying to figure out how to have both right now and this was sooo helpful, thank you.

[hettiewilson]

THIS IS SO RELEVANT TO WHAT I'M DOING RIGHT NOW!!! THANK YOU!

[marcelinojr.deperalta]

I had the same question too. Much Value in this video.

[CaliforniaRussianRiverBees]

Great show 🤔 looking to have Profit for Non-Profit 2023. We had to change the model.

[MrJbourdier]

Super Helpful, the 1st options is what I though, thank you so much,

[carolynmurphy]

Yes! Question. Can I form a nonprofit under a for-profit?

[stoneysoraclechannel]

Hey Ashley thanks for this info. Could you do a video on Ubit?

[childofsheba]

Nonprofit yes, corporations and LLC s no paying an agent of "public office" is very unnecessary when you can just read yourself and learn as you go attorneys, by their jurisdiction, works ONLY for the court and state not the client remember the land is occupied unlawfully one must learn law on our own to get successful results rather lose money in private and public jurisdictions

[rachelabbruzzi]

If a person wanted to open a c-corporation and want most of their funds to go to a non-profit they are part of, would they still be allowed to work at the non-profit? For example, could the executive director at the non-profit also be the owner of the c-corporation? Let's say they want to open a coffee shop unrelated to the non-profit mission, yet they want to continue to be the executive director at the non-profit. Could they do both? I know board members can't overlap, but can employees/volunteers of the non-profit overlap with the business. I hope this makes sense.

[FrancoVision]

What about if you already have a for-profit agency but want to create a non-profit to qualify for Public Service Loan Forgiveness (PSLF)? I am a licensed clinical social worker in private practice but don't qualify for PSLF because I have to be a non-profit. I am a single-member LLC. This rule needs to be revised, but unfortunately, getting change will take an act of Congress. Please advise.

[wordwriter]

Thank you for this video! Do you think that merchandise like t-shirts, etc. would be related enough to sell under a non-profit? For example, if the cause is mental health, and the nonprofit sells merchandise with the nonprofits name/logo, and mental health awareness messaging on it?

[trueroseincubatorinc.]

Can the services that people pay to the for-profit be considered tax deductible to the buyer?

[firebrandsgirl]

I feel asleep and this must have continued to play. Because when l work up the conference room o separate the for profit and non profit came to me in full. I mean l can see them so clearly now. It is as if a bright light is shining through my window. I can't turn away. Hahahah Thank u.