I am starting a small company with a friend that is going to donate a significant % (likely 50%) of sales to breast cancer research by selling my art. This is more than likely going to start very small, not generating much revenue. In the future, I plan to possibly donate all profits to the cause. I'm wondering what kind of documents I should consider filing. Also, could I file for tax exemption if I'm donating just a portion of profits? I've looked into a 501(c)(3) but am not positive that's what I need.
I plan to run this operation out of my home.
1 Answer from Attorneys
Based on the limited info you provided, this sounds like a 501(c) non-protfit company. My office assists small business owners on such matters and very affordable rates. Please call me to discuss.
Vaseem S. Hadi
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