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A legal question about organization registering.





ocalhoun
Now, the Equine Dream foundation has been running for more than 3 years, and I'm thinking about if it should be made an official entity or not...

Officially registering it as a non-profit would be nice, but expensive, and it opens up new requirements that would be difficult to meet, like disclosing financial statements (meaning I'd have to have financial statements made). Wile it would lend credibility and enable tax-deductible donations, it isn't worth it right now.

I'm wondering though, should I register it as a business?
While not absolutely needed, it would be nice if I could open accounts in the foundation's name, and list it as a beneficiary for life insurance. Perhaps there are other benefits I haven't thought of.

So, questions for those savvy in this field:
1: Should I officially register the Equine Dream foundation? As what?
2: How? How much does it cost?
3: Are there benefits or detrimental effects of doing this that I'm ignorant of?
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