Starting Nonprofit In Nebraska

Summary

In Nebraska, you can create a nonprofit organization that could apply for 501(c)(3) status, typically done with a corporation or a trust, not an LLC. Forming a 501(c)(3) corporation generally protects your personal assets, but certain actions like fraudulent activities could expose you to personal liability. Consult a local attorney for specific guidance.

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I live in Lincoln Nebraska can we start up an LLC that is nonprofit 501c3 to protect our personal assets
Hello Kiley,
In Nebraska, you can create a non-profit organization that could apply for *(c)(*) status. However, it's not typically done with an LLC. Instead, it's usually done with a corporation or a trust. It's advisable to consult with a local attorney for more specific guidance.
If I am self funding a nonprofit 501c3 as a corporation am I personally at risk financially if nonprofit fails
Hello Kiley,
When you form a *(c)(*) corporation, it becomes a separate legal entity. This means:
- Your personal assets are generally protected if the corporation fails.
- However, certain actions like fraudulent activities could expose you to personal liability.
It's recommended to consult a local attorney for more specific advice.