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Who can claim the proceeds after liquidating the church assets and paying off creditors? What about a religious ministry founded, headed and controlled by one individual?
It , like a church, is paid for by the contributions of many people, but is the founder entitled to the liquidated assets if the ministry ceases to operate - is dissolved?

2007-10-17 10:55:38 · 1 answers · asked by Jay 3 in Politics & Government Law & Ethics

If the minstry paid for land and buildings etc. with donated funds, could those asstes be in any other name than the ministry's and still be a legal nonprofit?

2007-10-18 12:01:26 · update #1

1 answers

If the church was a registered non-profit organization or non-profit corporation, it's assets would be distributed according to its by-laws, and after that, whatever laws apply in the state (or country) regarding dissolving non-profit entities.

Whether the "ministry" is controlled by one individual is not directly relevant -- it's a matter of whose name the property and assets are held in.

2007-10-17 11:17:18 · answer #1 · answered by coragryph 7 · 1 0

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