Hi John,
Some nonprofit organizations do form for-profit partners or subsidiaries, sometimes to spin off activities that would have to pay a lot of UBIT (unrelated business income tax) in any case.
You might also want to look at the emerging class of Benefit Corporations, mission-driven for profit companies (see this post on the CFM Blog
http://futureofmuseums.blogspot.com/2017/06/companies-with-benefits-part-1-benefit.html) that are increasingly attractive to "social impact investors." There are also for-profit companies that choose to become certified B corporations (see this post
http://futureofmuseums.blogspot.com/2017/06/companies-with-benefits-part-2-b-corps.html), in part to attract customers and investors who care about social and environmental impact. Some of these organizations then form nonprofit sister organizations that can accept donations (see this interview with the CEO of one such company
To B Corps or not to B Corps-A Case Study) Yours from the future,
Elizabeth
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Elizabeth Merritt
VP Strategic Foresight & Founding Director, CFM
American Alliance of Museums
Arlington VA
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Original Message:
Sent: 06-29-2017 12:08 PM
From: John Parks
Subject: Forming a new museum
Greetings,
Does anyone in our community know if a museum can be formed part non-profit and part profit?
We are considering the possibility of creating a history museum that could receive tax deductible donations as well as obtaining investment funds.
Thanks to anyone for their insights.
John Parks
19015 White Candle
Spring, TX. 77388
281.615.5632
john.t.parks@hotmail.com
Sent from my iPhone