Running a Market as a 501c3 non-profit

I am a farmers market manager of 5 years now. All this time I have been running the market as a growers "association." Very simple, uncomplicated, no paperwork. I am seriously condsidering incorporating the market into a 501c3 in order to solicit more donations from private enterprises, and in order to potentially partner with other entities in the future (public or private) for the expansion and improvement of the market. I would love to hear from any other managers out there who have perhaps made this kind of transition from association to non-profit. Was it worth it? Do the added layers of paperwork and "beauracracy" bog you down? Have there been benefits that you did not anticipate? Any and all input would be helpful as I try to make my decision.

Thanks,
Carin

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