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Crowd funding for political "FOR-profit"

Posted on 2016-08-28
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Last Modified: 2016-08-28
I did not ever want to deal with the legal complexity and legal risk of forming a non-profit, not to mention my fear of being crushed by the IRS. So I formed a normal Subchapter S corp for max flexibility. But I dod have a very pro-American message many many Americans would love to endorse and give me tiny, small and larger donations.

Do crown funding programs work for me?

It combines patriotic political action AND a for-profit organization.

thanks
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Question by:newbieweb
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5 Comments
 
LVL 98

Assisted Solution

by:John Hurst
John Hurst earned 2000 total points
ID: 41774119
Crowd funding only works if a large number of people subscribe to your cause, message or thinking. There is no formula for it, so all you can do is set it up and try.  Any costs you incur setting it up are all yours.

We did a crowd funding campaign at a not-for-profit client recently and it had only nominal success. The client is excellent at securing regular donation funding.
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Author Comment

by:newbieweb
ID: 41774135
> The client is excellent at securing regular donation funding.

I don't understand this. What client?

Don't worry about how popular it is, that's my problem. My question is whether it is allowed? Might they screen my project and drop it it is counter-establishment?

What kinds of costs are we talking about?

Do I need to do any web development to support it?

How long are approvals?

Is there a category of crowd funder I should seek out?

Any other details would help.
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LVL 98

Accepted Solution

by:
John Hurst earned 2000 total points
ID: 41774147
I have a not-for-profit client that raises funds by fees, grants and donations. They are good at this but their attempt at crowd funding was only mediocre. It is harder to do than you think.

There is no reason why your attempt would not be allowed so long as you pay taxes on proceeds.

Costs are web setup and advertising costs.

I cannot speak to your approval requirements.
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Author Closing Comment

by:newbieweb
ID: 41774152
thanks
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LVL 98

Expert Comment

by:John Hurst
ID: 41774154
You are very welcome and I was happy to help.
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