Birdwatch Archive

Birdwatch Note

2024-09-27 14:43:07 UTC - MISINFORMED_OR_POTENTIALLY_MISLEADING

Whether you can convert/process depends on the jurisdiction (i.e. what state). Each state has a process and there can also be Federal Tax issues. 35 States permit a non-profit to convert to an LLC. But money the non-profit raised must be used for its original purpose. https://www.aprio.com/can-nonprofit-convert-profit/ https://businesslawtoday.org/2018/08/mergers-acquisitions-conversions-context-nonprofit-organizations/?utm_source=newsletter&utm_medium=email&utm_campaign=august18_articles&utm_term=conversions&utm_content=non_profit https://www.swyftfilings.com/llc/convert-nonprofit-to-llc/#:~:text=Interested%20nonprofit%20corporation%20owners%20will,is%20the%20best%20way%20forward

Written by DFE1889D52AE2A0496D1EE35A46B7E7EC5C2D8B3E9B390227C7724503736FCF8
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• noteAuthorParticipantId - DFE1889D52AE2A0496D1EE35A46B7E7EC5C2D8B3E9B390227C7724503736FCF8 Participant Details
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• classification - MISINFORMED_OR_POTENTIALLY_MISLEADING
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• summary
• Whether you can convert/process depends on the jurisdiction (i.e. what state). Each state has a process and there can also be Federal Tax issues. 35 States permit a non-profit to convert to an LLC. But money the non-profit raised must be used for its original purpose. https://www.aprio.com/can-nonprofit-convert-profit/ https://businesslawtoday.org/2018/08/mergers-acquisitions-conversions-context-nonprofit-organizations/?utm_source=newsletter&utm_medium=email&utm_campaign=august18_articles&utm_term=conversions&utm_content=non_profit https://www.swyftfilings.com/llc/convert-nonprofit-to-llc/#:~:text=Interested%20nonprofit%20corporation%20owners%20will,is%20the%20best%20way%20forward