Can I form a non profit to create a scholarship for myself?

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Can I form a non profit to create a scholarship for myself?

If so, then can I form a corporation that donates to my non profit as it’s
primary expense? If I could legally do this, would it make any sense to for tax
purposes?

FYI, I am currently an independent contractor in the grocery delivery business
and I make about 600 a week part time. I am thinking of forming a business
entity and am trying to figure out the best way to structure for tax purposes
when my primary expense will be tuition.

Asked on May 7, 2018 under Business Law, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

No, you may not. Or more accurately, "non-profit" that only benefits you offers you no tax advantages--for example, no charitable or other tax deductions. The law looks to the reality of a situation: a non-profit that benefits only you is effectively viewed as just being you. The struture you create will be ignored in favor of the reality that you paying your own tuition.


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