All hard work brings a profit, but mere talk leads only to poverty.
For profit Ministries are a smart business decision for a lot of small Ministries. A for profit Ministry has several advantages over a not for profit and we will cover some of them. When many people think of starting a Ministry they have the idea of a Non Profit Organization. Our goal is to inform you of some of the advantages of a for profit Ministry.
Starting a 501c non profit has a lot of disadvantages for someone wanting to start a small Ministry. First of all there are a lot of fees associated with a non profit. You have to file papers with the Government and pay fees plus hire an Attorney for all the legal paper work. Then you have to establish a board of directors to over see every thing. Next you will have Government Watch Dogs looking over your shoulder telling you where you can spend your money and Government regulations can change quickly without notice.
You never really own the business and can’t just use the money and assets for yourself and your family to enjoy or give the money to who you chose. All your hard work don’t really benefit anyone except who they say it can benefit. Does God really want you go jump through all these hoops to spread the word. Bottom line is you have no control over anything you do in a non profit.
So now lets look at a for profit Ministry and why you may want to chose this path over a 501c non profit. First of all you just need to register for a business license either as a sole proprietor, partnership, LLC or a corporation. Sole proprietor and partnerships are lower cost approx $50 but LLC is also ok if you have about $500 to $2,000.
It just depends on the budget you have to work with and you can always upgrade later. You can start a Ministry from home and once you start making a profit you can hire an Attorney or an accountant to advise what is in your best interest. Hiring an Attorney or Accountant can also help you with tax benefits you can get. Later you can expand to a building if you so desire.
All the income that a for profit Ministry makes can go to whatever places you desire as a business owner. You have no Government watch dogs or a Board of Directors telling you where to spend the money. You won’t have to live the broke Minister lifestyle and be able to give more money to the community and pay your staff a decent wage. You can use your Ministry business to support your family and the profits to expand your Ministry. You control your income and are able to transfer money and assets as you see fit.
All your hard work benefits your family and the community. You can mix religion and business together and play by your own rules. You can accept donations and give people a receipt for Divine Coaching so they will have a tax deduction. I know some people may not agree with a for profit Ministry for one reason or another and that is ok. Some will say God don’t want you to mix religion with business and money is the root of all evil. Money is not the root of all evil, it’s the way some people use it that makes it evil.
Being a Minister doesn’t require to live from week to week worrying about how to pay the rent or eat. God has a plan for us Ministers and it is spreading the word and living an abundant life. If you want to help people and don’t want the Government or Watch Dog Groups in your business then a for profit Ministry is for you. The college course I took taught us about being an Entrepreneur and making money to support your family and help those in need.
If you want to get educated we offer training to start a for profit Ministry. You won’t have to rely solely on tithes and donations to fund your Ministries. Pick up a free copy of our guide to starting a for profit Ministry by adding your name and email below.