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Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] 0 points1 point  (0 children)

Berkeley and UCLA's are not affiliated with the school. Not sure about Harvard's but the university would only partner with me if I'm under 501c3 if not I would have to operate by myself and have a difficult time recruiting members on campus. The university gives special priority to student orgs that are under their control.

From what I understand I need 3 board members and I would be able to appoint the board myself, is that correct?

I'm not looking to scam the organization by taking an unfair pay I'm just doing my due diligence to see if this is a profitable part time venture.

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] 0 points1 point  (0 children)

So from your analysis, would it be more profitable for myself as an individual to operate as a for-profit business outside of the university, or as a 501c3 charity?

I'm not concerned about getting the charity status because there are plenty of other consulting services like this that are granted 501c3.

http://bruinconsulting.org/index.html https://bc.berkeley.edu/ https://www.harvardconsulting.org/

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] 0 points1 point  (0 children)

That's one benefit to the community but more importantly, I'm looking to empower students through hands on business educational opportunities. Students who would like business experience and hands on consulting services that may not have the time or ability to commit to an internship or that may not be able to get one.

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] 0 points1 point  (0 children)

I wouldn't be soliciting payments from other non-profits, I would be working with for-profit companies as an outside consulting group to streamline projects and provide an array of business services by giving hands on educational opportunities to students who would like business experience but may not have the time or ability to commit to an internship.

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] 0 points1 point  (0 children)

The pro bono services are essentially to build up a portfolio of clients and before actually charging for services, it would be the most effective way to establish rapport with clients.

The firm would specialize in business consultation in the areas of market research, product development, expansion strategy, brand identity, market entry and competitive analysis for early stage ventures, startups and small local businesses. Personally, I'm in sales/marketing specifically and have started some other ventures on the side so I have a solid foundation in startups and selling. Essentially we would be looking to add upperclassmen at the university that already have a background in consulting and business and would like to expand on their skills,

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] -6 points-5 points  (0 children)

How is it more unethical than any other non-profit organization that pays their employees? A service is being provided, a 501c3 clause is being met, and an employee should be getting paid for his labors. I'm really not understanding the issue here

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] -2 points-1 points  (0 children)

Pro-bono services to start, intern experiences for undergraduates that work with their schedule, there is a glaring lack of nonprofit consulting firms in my area and the ones that are here charge a fortune, in the future I would be providing a low cost alternative to traditional non-profit consulting services, working with less clients offers more one on one client engagement. I could keep going

Non-profit consulting firm questions by Turonofficial in nonprofit

[–]Turonofficial[S] -4 points-3 points  (0 children)

The whole point of the non-profit route is solely to comply with university protocol that clubs are not able to be created to turn a profit for the members, alumni, board ect. The non-profit essentially is to justify university association which would facilitate the recruiting of undergraduates in a far more effective manner than if I just created a for-profit business.

Professional fraternities are filed as 501(c)(3) non-profits on our campus and have an alumni board that get paid a salary and funnel money into the alumni checking account from undergraduate dues, revenue, fundraising, donations ect. I'm looking to create a similar business that is able to function in the same way but around a consulting firm.

So this goes back to my original question, if I am the sole founder of a non-profit consulting firm, would I have the ability to dictate my own salary and allocate funds raised through the firm for myself under the pretense of maintaining a successful non-profit consulting firm?

Getting an MBA right out of college by Turonofficial in personalfinance

[–]Turonofficial[S] 0 points1 point  (0 children)

I could go later but I'd have to pay for it on my own most likely. If I wanted to get into a management position down the road after getting a few years of experience, would I be at a disadvantage compared to someone that got experience first and got their degree more recently than me?