Dr. Art on Incorporation
Matthew Deleget, Information & Research, NYFA, courtesy of New York Foundation for the Arts
To incorporate or not to incorporate . . . that is the question facing many artists. From filmmakers to choreographers to graphic designers, the issue of incorporation appears daunting at first, but can be more straightforward than most artists think. For this installment, Ask Dr. Art discusses the benefits and drawbacks of incorporation from an artist’s perspective.
Sole Proprietorships and Partnerships
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L3C: An Alternative to Non-Profit Incorporation?
By Emily Chan, Nonprofit Law Blog
There has been a recent flurry of tweets and blog posts about L3Cs—Low-Profit Limited Liability Companies—as alternatives to incorporating as traditional 501(c) nonprofits. For those who are just joining the conversation now, it may be useful to go over some of the basics of the L3C form. Emily Chan of the NEO Law Group explains:
The low-profit, limited liability company, or L3C, is a hybrid of a nonprofit and for-profit organization. more...