What are Disadvantage of a non profit company
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With a Non profit community we will not be able to earn any profit.
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Disadvantages:
Cost: Creating a nonprofit organization takes time, effort, and money. Fees are required to apply for incorporation and tax exemption.
Paperwork: As an exempt corporation, a nonprofit must keep detailed records and submit annual filings to the state and IRS by stated deadlines in order to keep its active and exempt status.
Shared control: Although the people who create nonprofits like to shape and control their creations, personal control is limited. A nonprofit organization is subject to laws and regulations, including its own articles of incorporation and bylaws.
Scrutiny by the public: A nonprofit is dedicated to the public interest; therefore, its finances are open to public inspection...
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