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Starting a Business

Should I make my business a non-profit?

I want to start a ranch for underprivileged children. I would need resources to purchase the land and facilities. Profits would pay salaries. Should this be non-profit?

The goal would be to start the kids when they were in middle school and have them work the ranch through high school until they graduated. The profits would also be used to start a college fund for each graduate of the program.
- Guest Writer
Opinions expressed by Entrepreneur contributors are their own.
Hi,

Put simply, yes, I would guess not-for-profit would be a great choice. Your higher purpose is generally a great case for why you would use not-for-profit status. Get a great accountant or attorney who does a lot of work with NFP entities and make sure you are set up right from day one.

All the best,
Brad Sugars

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