<p>Hehe...getting crunked! xD
Um, so for colleges, if they wanted verification, I would invite them over to witness a music lesson?
Should I just get verification from the different schools that I plan on working with?
And also, I'm going to be typing the article of incorporation.. and when I get it back, I could just make a copy and give it to the colllege..isn't that good proof?</p>
<p>The best verification is having that EC mentioned in your GC rec letter, according to Ben Golub of Caltech.</p>
<p>No not for colleges. I was talking about corporations who would like to donate. Showing verifications to college is a long way off. Start it first.</p>
<p>Getting donation from corporations is a hell of work, but it might be worth it. But for colleges, GC Recs are enough.</p>
<p>I outlined on post 40 on how I did it. The thing is corporations can donate much more than the money you can earn from just a simple bakesale. Heck you would need to throw 10+ bakesales to equal the donations you can get from a corp. As I said, once you learn the ropes its easier to go the corp route.</p>
<p>Hey, this is a good convo. Just for the sake of knowledge, why is there less "red tape", if i understand correctly, with corps? Is it because a corp is a sovereign entity with not much in their name? I say this because my dad is an optometrist and he just started his own corporation for tax/insurance reasons... so if he gets sued for example there isn't much the plaintiff can demand.</p>
<p>Well for the business I manage, corp is the way to go. We deal with quite a bit with of money and having an LLC allows us to sleep better at night knowing my parent's homes and cars wont be in jeapordy if someone decides to sue us (a common threat in our business area). Taxes are also good as it allows the taxes to be passed through and also allows us to reinvest our earnings back into the business which provides extra tax incentives for us.</p>
<p>Whoa whoa there..
back to Business_Freak
Sorry.. I'm totally ignorant with abbreviations..
what's GC?</p>
<p>Guidance Counselor</p>
<p>And getting money from corps would be how??
Well, I know that I would have contact them (Should I just contact the president?).. erm.. how would I ask them to donate? Like send them a nice professional letter and invite them over for a demonstration? How do you do it?
And once we get the money, what would we use them for? Just splitting them up among employees? haha, I sound so foolish. I mean, our company is technically supposed to have "headquarters" somewhere.. but that'll probably be at my house or something. I'm still filling out my Article of Incorporation right now.. should I write my address.. or should I plan to meet at my school?
Wow, I sound so elementary</p>
<p>And.. can you think of a nifty name that describes the 'students teaching students music' type of thing?</p>
<p>Oh, and I copied this from the Article of Incorporation.. which I really don't understand:</p>
<hr>
<ol>
<li>Check one of the following:
The corporation is organized on a non-stock basis.
Option for Nonprofit Cooperative Corporation Only: The corporation is organized on a stock share basis.</li>
<li>For Nonprofit Corporation Only:
(Strike out if inapplicable): The corporation shall have no members.
(Strike out if inapplicable): The incorporators constitute a majority of the members of the committee authorized to incorporate: _________by the requisite vote required by the organic law of the association for the amendment of such organic law.</li>
<li>For Nonprofit Cooperative Corporation Only:
Complete and strike out the inapplicable term: The corporation is a cooperative corporation and the common bond of membership among its (members) (shareholders) is: _______*****</li>
</ol>
<p>Okay, so for #5, the non-profit organization is non-stock.. I think
and for #6 what does it mean the corporation shall have no members? Aren't I a member? Aren't other people who work a member? But if it's not that, then the second choice.. and the blank, I don't UNDERSTAND!
and for #7 the common bond among us would be what, teaching kids how to play instruments? I mean, we're not going to all be high schoolers, because there could be college people.. ya never know.
~~~~~~
Also, complete and strike out if not applicable...
As in, complete it and then cross it out? Well, obviously I will be retyping this over again.. but striking out means deleting it and not typing that part.. right? But then why would they want me to strike out a part? If it's not applicable? well, that would make sense.. xD</p>
<p>Also, what is THIS?
**C. The following, in addition to the filing fee, shall accompany this form:
(1) One copy of a completed form DSCB:15-134A (Docketing Statement).
(2) Any necessary copies of form DSCB:17.2.3 (Consent to Appropriation or Use of Similar Name).
(3) Any necessary governmental approvals.</p>
<hr>
<p>Um, what if I don't know what they are and if i don't have any?</p>
<p>And what's this all about?
<strong>ADDITIONAL INFORMATION REGARDING NONPROFIT CORPORATIONS
Pennsylvania sales tax exempt status may be obtained from the Department of Revenue, Registration Division,
Exemption Unit, Department 280901, Harrisburg, PA 17128-0901. Any other type of exempt status may be obtained or
explained by contacting your local Federal Internal Revenue Service.
Please be advised that the date and signature of the Secretary of the Commonwealth indicate the filing in the
Department of State. NO CERTIFICATE OF INCORPORATION IS ISSUED for nonprofit corporations.</strong>*
Wait, so I don't get a certificate?
Is that significant?</p>
<p>Venus - First off, if you need some advice on starting/running/growing a business, please feel to contact me and we'll talk privately, I've helped out a few people on this board already. AoI can be pretty confusing since it uses a bunch of stupidly complex "lawyer" language that just needs to be translated into English and then its pretty simple. </p>
<p>Nonetheless, filling out an AoI is about 4-5 steps down the line of "things to do" when starting a non-profit (starting a non-profit is much, much more work than starting a profit-based company, so as I'll say as some others have already said, don't do it because it looks good for college, do it because you really want to give back to the community). Anyways, good luck, and feel free to contact me.</p>
<p>to whartonalum:</p>
<p>i have 4 business courses (fin. accounting, managerial accounting, biz org and manangemtn, and comp apps for biz) in my skool that are ap credited and recieved credits from the local community colleges that can be transferred to any other college(if that college accepts them). in a way this is like an ap course, do u think taking these courses would be better than just taking ap courses, or would takin ap courses be better?</p>
<p>Well, in my opinion, if these courses are tough and the colleges know that they are ap credited then you should go for one of the courses. But don't sacrafice your normal ap course load. Like, senior year we'll probably have an ap language, ap english, ap math, ap gov (or economics), and some ap science, plus some more extra classes, like music. If you really have the space to add a business class without affecting your main courses, then do it! But if you don't have the space, then stick to your regular ap classes. That's what whartonalum told me!
=)</p>
<p>I'm not sure if by corporation you mean major corporations (e.g. Barnes & Noble / Amazon, which you mentioned), but IMO it's not as easy to get corporate donations as you make it sound - at least the kind of corporate donation that is worth "ten bake sales." Most major corporations have major ties with major non-profits (e.g. Boys & Girls Club, Make A Wish, etc.) and aren't necessarily interested in doing business with a random non-profit. Their giving is generally in their interest, so to think they are going to donate thousands when there's nothing in it for them just because they have money set aside for it...I think that's wishful thinking.</p>
<p>i don't know about where you guys live, but here in canada, you need to be 18+ to incorporate a business</p>
<p>
[quote]
I'm not sure if by corporation you mean major corporations (e.g. Barnes & Noble / Amazon, which you mentioned), but IMO it's not as easy to get corporate donations as you make it sound - at least the kind of corporate donation that is worth "ten bake sales." Most major corporations have major ties with major non-profits (e.g. Boys & Girls Club, Make A Wish, etc.) and aren't necessarily interested in doing business with a random non-profit. Their giving is generally in their interest, so to think they are going to donate thousands when there's nothing in it for them just because they have money set aside for it...I think that's wishful thinking.
[/quote]
</p>
<p>Well its been my experience and I have been able to raise substantial amounts through corporations. I wouldnt be able to raise even a tenth of that through bake sales.</p>