Fishingcross Profile: a For-Benefit Business

Silver cross and Christian fish pendant...

Many have asked if Fishingcross is structured as a non-profit, a 501(c)(3) or a for-profit business. Below is a general overview of the Fishingcross mission and approach as a business.

Officially we are formed as a for-profit company. We are an LLC on paper.

We talked a great deal in consideration of reasons to form as a 501(c)(3) Non-Profit entity and determined that the advantages are not in place for Fishingcross or for Fishingcross customers. For example, since we are selling a product, we are making an exchange that is not considered a donation. This makes customer purchases at Fishingcross not tax deductible for Fishingcross customers. Also, we've taken investments from friends and relatives that, as we understand it, would not be allowed as a non-profit.

Our mission, at its core, is to fund, support and carry out missions, humanitarian aid and other goals that better the lives of people by following the path of Christ. At present about 80% of the would-be profits are being reinvested in advertising, business setup and inventory orders, with about 20% being set aside for our goals. We're sure this will shift as volume increases from our affiliate program and retailer orders. There are currently no salaries being paid by Fishingcross. Although, in the future we intend pay key individuals in-house while relying on vendors to fulfill required business services. We pursue this approach to avoid employing a large staff and remain highly adaptable with very low overhead. As a successful company we will be able to do ever-more to directly and indirectly fund missions and human aid projects that spread the love and message of Christ.

While knowing how Fishingcross was officially formed, we still didn't know how to categorize ourselves publicly until well after we launched Fishingcross as a company. It has come to our attention, thanks to Jared, that variations of this business model are being referred to as Hospitable Business and For-Benefit Business. This is an emerging business model that is described as the following:

"Non-profit businesses often exist for the purpose of giving back to the community and rely heavily on financial donations to do so. For-profit businesses are designed to make a profit and occasionally they are involved in charitable work on the side. [We hope] to define a third way of doing business called hospitable profit. We envision hospitable profit as a way in which we work for profit and, above salaries and costs, we give profit to positively influence our local and global communities. Charity is not a side project rather it is the heart and purpose of our existence."

We hope that this helps shed light on our organization, goals and intent as a business in your community. Charity and Ministry is not a side project rather it is the heart and purpose of our existence. Every purchase helps push us forward. Go here to select your Fishingcross: Christian Pendants for Missions and Fundraising

If you have further questions please feel free to inquire at office@fishingcross.com.