Cool, best of luck! We are not a non-profit, we are a regular old LLC. Becoming a non-profit is a pain, although we sometimes still kick around the idea. Steve handled all the setup so I can't get too much more specific. Escape Pod began with a personal investment from Steve's pocket, so writers were paid reasonable rates from the get-go. With erotica, though, you'll probably get a decent amount of interest with or without that, and will hopefully work your way up fast. In general, being an audio reprint market is key to the success of the entire endeavor -- until recently, few publishers have insisted on authors signing away audio rights, so authors retain them which allows us to deal directly with them. So we don't need a legal department (knock on wood).
The only advice I have off the bat is: edit your About page. Other than that, if you have more specific questions, feel free to drop me a PM or email and I'll help if I can.