sponsorship

[truckstop]

LLC and Non-Profit are two different things. There are only a handful of states that allow an LLC to be a Non-Profit. Unless you're talking about forming a non-profit that then forms a for-profit LLC.

LLC basically allows a small business to operate with legal separation from its owner(s) and protects personal assets. Non-profit organizations operate under strict rules, and I'm pretty sure "race team" is not an eligible purpose.



* the only reason i know any of this is due to working for a non-profit, and looking into forming an LLC for my business so i'm by no means any kind of expert.

[pdoughduc]

"Race team" ought to be listed as charitable eligible entity!