Should I Incorporate My Idea As A Non-Profit Or For-Profit?

2 min read

According to the US Small Business Administration, there were 30.2M for-profits in the US in 2018, with almost a 50/50 split between people working for large (>=500 employees) and small (<500 employees) companies. Meanwhile, the National Center for Charitable Statistics reported there being 1.5M non-profits registered with the IRS in 2015. These non-profits contributed just shy of a trillion dollars (5.4% of GDP) to the economy with 1 in 4 American adults volunteering in 2017. Big numbers on both sides for sure. With all this context — if you are an entrepreneur trying to decide whether to make your idea…...

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Amit Garg I have been in Silicon Valley for 20 years -- at Samsung NEXT Ventures, running my own startup (as of May 2019 a series D that has raised $120M and valued at $450M), at Norwest Ventures, and doing product and analytics at Google. My academic training is BS in computer science and MS in biomedical informatics, both from Stanford, and MBA from Harvard. I speak natively 3 languages, live carbon-neutral, am a 70.3 Ironman finisher, and have built a hospital in rural India serving 100,000 people.