To Profit, or Not to Profit? We Have the Answer to That QuestionPDF
Joshua Blechner's article "To Profit, or Not to Profit? We Have the Answer to That Question," was published in the May 2012 issue of the Volunteer Lawyers for the Arts Newsletter.
From the article...
"Forming a corporation (even a non-profit entity) generally provides limited liability for those involved in its activities (including board members, employees, and volunteers) and it's a key step towards obtaining federal corporate tax-exempt status, which means it does not pay income taxes, generally speaking, and which is critical for gaining access to donations and applying for grants."