[Finance] Running a Company inside a 501(c)3 Makerspace

[Jeff Cotten]

just a quick note though, a non-proft isn't necessarily a 501c3.  You can
file as a non-profit with the state, but 501c3 is federal.


On Fri, Feb 24, 2012 at 12:06 PM, Grant Henninger <grant.henninger at gmail.com
> wrote:

> I use to work for a non-profit (not a hackerspace though). We owned a
> building and sublet parts of our office to other companies. Most were
> other, smaller non-profits, but there was one for-profit that we sublet to.
> I'm not sure of the accounting that went into making that work, and I'm
> sure we charged at market rents to the for-profit, but it's possible.
>
> -Grant Henninger
>
>
> On Fri, Feb 24, 2012 at 10:01 AM, Christopher Pilkington <cjp at 0x1.net>wrote:
>
>> On Feb 22, 2012, at 5:00 PM, Jonathan Bowen wrote:
>>
>> > Is it legal for me to use the equipment in a Non-Profit makerspace to
>> run
>> > my business?
>>
>> Get an attorney familiar with 501c3.
>>
>> IANAL… As someone who is in control of the 501c3 and then providing
>> rental space to a business you control, you're opening yourself for excess
>> benefit transaction sanction.  An obvious situation would be if the 501c3
>> leased the space to your personal company at below market value.
>>
>> Get an attorney familiar with 501c3.
>>
>> -cjp
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>
>
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