Non-Profit Law
December 22, 2022
Non-profits
Can a non-profit own a for-profit?
Yes, but:
-the for-profit must follow the non-profit’s charitable purpose or the value thereof be used to further the charitable purpose
-must not engage in self-dealing, a board member must not individually benefit
-differs based on whether you are a private or public non-profit
Can a for-profit own a non-profit?
-No, because non-profits do not have owners
-Non-profits are controlled by board of directors
-The for-profit can be the cause for creation of a non-profit in order to achieve a charitable purpose and may be its principal funder, but must ensure that the non-profit continues
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