This program is free but individuals must apply and be accepted to attend. Applications must be received by January 4, 2024, 11:59PM CT. Are you starting an arts business? Have you been operating as a sole proprietorship or a partnership for a while? Is it time to take the next step and create a formal business structure and business plan to protect you and your work? Learn about best practices and start your LLC with Lawyers for the Creative Arts! Join LCA, attorneys from Perkins Coie, business experts from SCORE, and a cohort of fellow arts workers this winter for a six-part cohort series on creating a new LLC. The series includes seminars, mentoring, and clinics on LLC formation and business planning. Beginning with two introductory seminars on LLC formation and business planning, you will then be mentored one-on-one by a business expert from SCORE as you draft your LLC business plan and prepare your business pitch. The series completes with a seminar on LLC tax issues and a LLC Formation Clinic, where you will work one-on-one with attorneys from Perkins Coie to complete the documentation required to form your new company in Illinois. The series is hybrid in-person in downtown Chicago and on Zoom. Application Requirements: Applicants must plan to form a new LLC to operate an arts-related business in Illinois in the near-term. Prospective owner(s) of the new LLC must have an average annual household income that falls within 300% of the federal poverty guidelines Applicants must commit to attending all Zoom and in-person meetings of this program and participating in out-of-session assignments and responsibilities. Applicants must show past experience in the area of their new arts-related business. *Upon receipt of your application and determination of eligibility, LCA will contact you. Once your application has been approved by LCA and Perkins Coie, we will notify you about the location of the in-person meetings, etc. Please block off the dates and times for the series on your calendar immediately. Important Dates: Crafting Your LLC Business Plan & Pitch (in person at LCA in Chicago’s Loop) on Tuesday, January 16th at 1:00 – 3:00 PM One-on-One Business Plan Mentoring with SCORE (on Zoom) Schedule TBD at mutually agreeable times LLC Seminar (Zoom) on Tuesday, February 13th 12:00 – 1:30 PM. Pitch Clinic (in person at LCA in Chicago’s Loop) on Tuesday, February 20th 1:00 – 3:00 PM. Tax Seminar (Zoom) on Thursday, February 29th 12:00 – 1:30 PM. LLC Formation Clinic (in person at Perkins Coie in Chicago’s Loop) on Monday, March 4th at 11:00 AM – 3:00 PM. About SCORE: SCORE, the nation’s largest network of volunteer, expert business mentors, is dedicated to helping small businesses plan, launch, manage and grow. SCORE is a nonprofit organization that is driven to foster vibrant small business communities through mentoring and educational workshops. Since its founding in 1964 as a resource partner for the U.S. Small Business Administration, SCORE has helped more than 11 million current and aspiring entrepreneurs start, grow or successfully exit a business through mentoring, resources and education. Score.org About Perkins Coie: Perkins Coie is a leading international law firm that is known for providing high-value, strategic solutions and extraordinary client service on matters vital to our clients’ success. With more than 1,200 lawyers in offices across the United States and Asia, we provide a full array of corporate, commercial litigation, intellectual property and regulatory legal advice to a broad range of clients, including many of the world’s most innovative companies and industry leaders as well as public and not-for-profit organizations. Perkinscoie.com Frequently Asked Questions: Is this program really free? Yes! The program sessions are free. You will need to pay the standard registration fees to the State of Illinois when you form the new LLC. What if my new LLC has multiple owners? You can apply to form either a new single-member LLC or a multi-member LLC. All prospective owners of the new LLC must have an average annual household income that falls within 300% of the federal poverty guidelines to be admitted in the cohort series. I cannot make every meeting time within the series, can I still apply? No. Applicants must commit to attending all Zoom and in-person meetings of this series and participating in out-of-session assignments and responsibilities. LCA plans to offer this LLC Formation Cohort Series multiple times each year, so please check back and apply for a session that works for you. How many people will be admitted into the cohort? We anticipate admitting 10 new LLCs into the cohort. Some LLCs may be multi-member, so the exact number of individuals in the cohort may vary. Have more questions? Please reach out to Elsa Hiltner, LCA’s Associate Director of Programs, at ehiltner@law-arts.org
