For-Profit with a Non-Profit Arm Question
Hi BP Community,
My partner and I are real estate investors in Texas, and we're currently assessing the viability of a one-for-one giving model, where a buyer would purchase a new-build, and we would use as much of the profit as needed to build a home in certain regions in Peru (where my family is from).
I would like to fund the first one through a pay-to-enter raffle sweepstakes. It would allow us to go through the construction process a little more carefully (as we're using new technology) and would hopefully establish a marketing presence for us. However, according to law, only non-profits can create pay-to-enter raffles, and the excess proceeds can only be used for the non-profit purpose. I definitely want to create a for-profit entity that has a giving component, similar to TOMS. Anything creative I can do to get over this hump? Any feedback would be so much appreciated. Thanks a bunch!