The question
Hello. My friend and I are starting a new nonprofit business, to promote, educate, and grow diversity in equine sports. My partner runs the day to day horse operations and has existing assets (horses, tack, equipment), totaling more than 100k. I am providing all the business support such as a fully developed website, business plan, phone/email setup, social media account setup, and will be doing all the marketing, fundraising, finances, etc. What is the best way to structure our company? Should my partner have 100% ownership/shares, and I be compensated for my consulting services, either by a % of income/donations and/or a fixed hourly rate/salary? Would it be a good idea to assign a % of ownership/shares in consideration for the intellectual property I have already created (website, social media accounts and business plan)? Note: We have a CPA who is assisting with filing the Articles of Incorporation, FEIN, and 501c3 application.