Hello everyone! My organization is looking into having an llc under our nonprofit. Without giving a whole lengthy background we are a sports nonprofit in the works of getting our first facility. With a facility comes unrelated business income. We were given advice to do an llc under the nonprofit. Our board likes the idea and we’ve been trying to figure out what needs to be done, what are the rules/stipulations. Our np lawyer suggested a for profit lawyer but she has never done this specifically so we’d like to make sure we are asking for the right stuff. Has anyone done this and could they guide me where to look for rules or give any suggestions? We are in New Jersey. Thank you in advance!
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