[markcranmer]

I am an ecommerce sole trader and am thinking of setting up a separate arts funding nonprofit organisation. Initially this would be a very small and simple entity; one that would allow me, and possibly others, to contribute funds into an account that would be used by a small group of artists to fund exhibitions etc.

Sounds straight-forward enough, but there are some elements to this that I am unclear about:

Is there a difference between a non-profit company and a charity?

Would it be a conflict of interest if I, as principal donor, was a member of the artist collective? (particularly if I was donating from my business and therefore reducing my tax burden etc.)

Would the artist's collective have to demonstrate some 'public good', other than simply promoting their art etc?


I hope all that makes sense.

mark

[Indizine]

Take legal advice from an accountant.

A not-for-profit and a charity are different entities and thus have different status and obligations, criteria, etc.

You cannot personally profit or make personal gains from either. Each have different tax implications.