Nothing is worse than having unprotected assets when faced with litigation and creditors. One catastrophe can bring financial ruin to even the healthiest organizations. Many churches and ministries are in need of a safeguard against financial losses arising from unforeseen liabilities. There are several options available to organizations that will help protect against catastrophic losses. For instance, a 501(c)(3) nonprofit can put certain high risk activities such as youth events or rehabilitation programs into completely separate entities which still enjoy both income tax exemption and tax deductions to donors who contribute to the separate organizations. By doing this, it is much more difficult for claims from the separate entity to affect the offering plate or assets of the parent organization.
We can provide counsel on the options available to you which include:
- 501(c)(2) Title Holding Corporations;
- Single Member Exempt Limited Liability Companies (LLC);
- Church Integrated Auxiliaries;
- Church or Ministry Owned For Profit Entities; and
- On-Site Risk Assessments, Liability Releases, Insurance Reviews, etc.
Our firm has experience helping churches and ministries though catastrophic liability events. Let us use this experience to help you be better stewards of your assets before a problem arises. Call us today at 918.494.6868 or contact us online to schedule a consultation regarding your legal issues.