Top 10 Prayers for Crookston

That no more businesses close their doors.

That Metro Plains receives tax credit funding for the former Wayne Hotel.

That Prairie Skyline receives Housing the Long term Homeless funding for the former Union building.

That a developer comes forth to develop housing in the former Professional Building.

That community leaders prioritize developing housing and businesses downtown.

That the former Winter Shows building can successfully come back as a place for equine events.

That people and leaders adopt the idea of a working arts center in the former Cathedral on Ash.

That the Red Lake River is made into a recreational hot spot for Crookston.

That the poor, angry, depressed, apathetic, can’t be done here, misinformed, and gone to the lake folks are revitalized.

That our younger and older generations come back to help us.

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To be or not to be that is the question...

The question is from Patsy, Can a non-profit start up to purchase a business? Sure! But a word of caution - its not a venture for the faint of heart! And some harder questions need to be answered before creating a new entity. A new public charity can take six months to up to a year to form. And it's getting harder and harder to get the special 501 c 3 status with the IRS.

The first questions go out to the owners of the Crookston Bowling Alley, Corral Lanes:

1. What is the sales price? What is important to you? Selling it quick, getting the most money out of it?
2. Will you carry a contract? Be flexible on terms?
3. What is the potential return on investment?
4. What is the net operating income?
5. If a negative cash flow, is there ways to change the situation?
6. As a potential buyer, can I see the books and have my accountant look them over?

Assuming there is some money to made in the business, the second question is: Is there an existing non-profit public charity that needs the bowling alley to raise funds for their charitible cause? Do they have the capacity to operate it?

Third, is a non-profit entity the right choice? What about a Limited Liability Company or a Corporation? There's tons of information on public charities, foundations, and other entities on the web.

And last or perhaps first quesion, since we are in Crookston, can we find a group of five people willing to invest time and money and enthusiasm to form the new non-profit, investment corporation, or LLC with owning and operating the bowling alley as the main means of fundraising or have they all moved to the lakes?

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