Phil is an Iraq war veteran who lost one of his arms in combat. Upon an honorable discharge from the military, he decided to form a nonprofit organization to assist wounded veterans to obtain/retain employment when released. Phil knows that the organization needs to become tax exempt.
Determine the number of employees needed, suggest what you consider to be the best organizational structure, and explain.
Phil is considering the organization becoming a corporation. How would he go about becoming one in Ohio?
What are the advantages and disadvantages of forming a corporation?
Consider the other three legal forms; which one might be a better option than a Corporation? Explain.
How does a nonprofit organization become tax exempt?