[hackerspaces] LLC to non-profit - who's done it?
dosman at packetsniffers.org
Wed Aug 18 10:37:51 CEST 2010
I would like to know of hackerspaces which started as a for-profit
entity and either attempted or successfully converted to a non-profit
later in life? (US based).
I understand the reasons to go straight to non-profit rather than
start as an LLC, but that only works for groups with enough man-power
and money up front to do that. Our space is now an LLC operating
internally as a non-profit for lack of better wording. Our intent is
to keep the door to conversion open for use down the road, if things
fall apart the loss of financial investment to the founders is
minimized. Yea it will cost more money to convert, but if we've been
operating successfully then there will be cash reserves stockpiled and
earmarked for the conversion, no additional burden on founders and
members. No money? No worries, we keep on trucking as-is or close the
I've heard a rumor of a space that was very successful as an LLC and
then dissolved and disbanded for good when they went to become a non-
profit. Fact or fiction?
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