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Can one switch a non-profit business to a for profit business if it was taking donations as a non-profit?

For example: WikiPedia??

2006-12-20 08:35:50 · 1 answers · asked by Mark K 2 in Business & Finance ➔ Other - Business & Finance

1 answers

An organization can relinquish their 501c3 status, but the existing assets will have to be dealt with. They don't just pass on to the taxable business.

2006-12-20 08:38:17 · answer #1 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋

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