Nonprofit or profit?

hello,
I am a sophomore in the United States

I have started a nonprofit (as of now, and not a 501c3 yet). I have a few questions about my non-profit but before I ask those questions I have explained how my nonprofit works to clear confusion. The organization has several members and we are on the brink of implementing our plan. (I am the founder)

There are 2 parts to the organization:

Nonprofit part (a):
Doing drives to collect things at multiple schools.

Profit or Nonprofit part (b) (the part of the organization on which I have a decision to make)
The way my nonprofit’s sytem works generates a lot of traffic to my website.

My question is:
Do I make the second part (b) of the organization for-profit as it could generate tens of thousands of dollars from advertising money?
or
Do I make it a nonprofit and not keep any money generated from the webiste?

WHICH one will look the best on college apps? profit or nonprofit?

And if in the future, I have a choice to run a for-profit business that could make hundreds of thousands of dollars or found a nonprofit that could make an positive impact on the world, which one looks best on college apps?

I am looking to go to a good business school, Ivy league, maybe Wharton, Harvard, Georgia tech, etc.
My grades should not be a problem but I really want to stand out and am not sure which I should pursue: Profit or Non-profit?

thanks,
fred

Do whichever is best for your mission/goal/purpose. Things tend to work a lot better (and more fun) if you think less about college and more about the things you hope to do. Non-profits seem to have lost its’ buzz in my opinion - of course, I’m only a high school student myself so take this with a grain of salt if you wish.

BUT, this: “My organization generates funds for our environmental organization by selling bracelets. We use some of the revenue to rent boats and diving equipment to look for plastic waste and pollutants in X Body of water, which is where lots of people in our community use and interact with”

sound a lot better than

“I am the founder of a non-profit where we sell donuts at school four times a year and donate all our money $100 or so to a local x-disease research center”.

I know it’s a lot more exaggerated, but I hope it gets my point across. Whether it be small and/or whether you generate revenue from it, it doesn’t really matter, as long as it’s something done with passion and your interests drive you to reach your goals. This sounds cliche, but it’s really the truth. I don’t think colleges care whether your organization is non-profit or for-profit; they want to know WHY you made it, why you’re spending your time into it; and don’t try to fool them, they’ll look right through you like a pane of glass.

@fredkhim, can you perhaps clarify how you see this working? You can’t set yourself up as a nonprofit then keep money generated by your nonprofit’s website. It’s illegal.

How would a nonprofit’s website generate enough traffic to make you a lot in advertising revenue? Maybe if you give us more information we can advise you.

BTW, don’t forget that you don’t have to be organized as a 501©(3) in order to have an impact. I do think colleges are wary of kids founding nonprofits because in most cases the founders have not created a succession plan for once they leave high school. Starting a nonprofit is easy. Keeping it going and solvent isn’t.

I agree with @Sue22 …the first thing I ask when interviewing a student who has created a club/non-profit is what is their plan to keep it going

The final plans for the nonprofit have to remain confidential for the next few months. @Sue22 the nonprofit is seperate (me and my friends own it) and the for-profit business is different (the website). My nonprofit’s traffic would be directed to that website as well as other nonprofit’s traffic because that is how the revenue model works.

But my main question was that after making this business and maybe earning $100,000+, would it really make a difference on my college application to include this AND write about my passion for entrepreneurship and how I used my real life skills to make this business a success. @bopper

2fredkhim, There are laws against private benefit transactions. If you don’t know what that means look here. https://boardsource.org/resources/private-benefit-private-inurement-self-dealing/

You don’t own a nonprofit. You can be a member of the board if you have the legal status to do so in your state. Some states, but not all, require directors be over 18. Have you checked the IRS regulations and the laws of your state?

I’m not sure why you’re mixing these two entities. Why not just do one or the other but pour all your energies into it?

Founding something, making a non profit, or possibly making profit, even $$$$, traffic on your web site…are NOT Ivy tips. Be sure you understand the picture of what each does look for before running off in the wrong directions.

You could pick up beach trash without the distraction of making it a business entity. You dont know you will make $$$$.
A change in thinking will help.

Have you formed a not-for-profit corporation in your state? Have you looked at the application for 501©(3) status? Do you have any idea what’s involved in keeping the corporation in good standing in the coming years? How about what’s required to maintain 501©(3) status? How will the entity be funded? Is it going to be a public charity or a private foundation? How long do you expect it to exist?