@espola,
Generally speaking, how its done is you create multiple entities, with 1 of those entities as the non-profit. The entities I generally recommend are:
The trick is to keep Non-Profit, Inc. a break even operation. It will pay license rights to use the IP to IP, LLC, and rent/lease/sub-lease all fixed assets from Fixed Assets, LLC. The only entity the public sees is Non-Profit, Inc. Any monies that Non-Profit, Inc. needs as capital will come in the form of loans from Fixed Assets, LLC, which may also have a secured interest.
- Intellectual Property, LLC - Holds onto the intellectual property / club name, marketing-website, etc. We generally separate out the IP because we can treat this differently and domicile the IP LLC in states that are friendly.
- Fixed Assets, LLC - Holds onto all real assets, such as, equipment, office buildings/space, lease rights, etc.
- Non-Profit, Inc. - Operates the youth clubs/teams.
And, of course, hide all of this from the parents.