non profit status change to LLC

General Real Estate Investing
1

We established a non profit a couple of years ago and want to change it over to a LLC what is the procedure for doing so?

Would there be any benefits of doing so?

And can we get lines of credit just as easy with our non profit status or LLC?

Thanks

2

uh…why?

going from 501(c)(3) to for-profit can have severe consequences. there’s all kinds of issues there.

3

Hi we are not a 501 (c) but we are registered as a non profit and we want to know about switching over to a LLC.

4

registered with who? the state? probably just need to dissolve that entity and create a new one. I have no experience with converting a non-profit, but that would be failsafe.

5

Yea we registered with the state we live in as a non profit and thought we could disolve it as a non profit and create the LLC but without losing our “how many years as a business status” .

This hopefully will show the banks and creditors we have been in business for a few years and hopefully they will give us credit lines of business.

6

interesting technique. let me know how it turns out.