SpelKast Foundation dba SpelKast™
Non-profit corporate structures with potential benefits and drawbacks:

501(c)(3) Public Charity:

• Benefits:
  • Tax-exempt status
  • Public trust and recognition
  • Eligibility for grants and donations
• Drawbacks:
  • Strict regulations and reporting requirements
  • Limitations on political activities
  • Potential for scrutiny and public accountability

501(c)(4) Social Welfare Organization:

• Benefits:
  • Tax-exempt status
  • More flexibility in political activities
  • Less stringent reporting requirements
• Drawbacks:
  • Donations are not tax-deductible for donors
  • Potential for limitations on fundraising activities

Fiscal Sponsorship:

• Benefits:
  • Access to resources and administrative support
  • Streamlined fundraising and financial management
  • Reduced administrative burden
• Drawbacks:
  • Less autonomy and control over decision-making
  • Dependence on the fiscal sponsor’s policies and procedures

Addressing Your Concerns:

• Insulation from funds: A non-profit structure can help to separate your personal finances from the organization’s funds, protecting you from personal liability.
• Access to resources: Non-profits can access grants, donations, and other resources that might not be available to individuals or for-profit businesses.
• Combating negative assumptions: By articulating your mission clearly and demonstrating transparency in your operations, you can challenge the negative assumptions and biases that some people have about non-profits.

Additional Considerations:

• Legal counsel: Consult with a legal professional specializing in non-profit law to determine the most suitable structure for your specific needs and goals.
• Community support: Build a strong network of supporters and advisors who can provide guidance and assistance in navigating the challenges of establishing and running a non-profit.
• Financial planning: Develop a comprehensive financial plan that outlines your projected income, expenses, and fundraising strategies.