Business Law
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Case Details
Successful formation of a nonprofit (501c3) and a supporting business entity for a client in Phoenix, Arizona. The firm developed a cohesive strategy, filed necessary paperwork, and guided the client through launching operations for both entities, ensuring compliance with tax requirements.
Additional Notes
The challenge involved breaking the client's vision into two separate legal entities (for-profit and charitable), identifying the Board of Directors, mission, and vision for the charity, and defining products/services for the LLC. The process included forming a 501c3, securing tax-exempt status, drafting bylaws, appointing directors and an advisory council, forming an LLC, drafting an operating agreement, and creating contracts between the entities. This infrastructure provides flexibility for the client to manage funding fluctuations and ensures long-term success.