Tuesday 19 February 2013

For-Profit Or Non-Profit

To: Supervisor
From: Student

Re: New Client, Career constitute of America, Inc. (CIA)

Date: celestial latitude 30, 2010

Summary of Applicable Facts: New client, the CEO of Career Institute of America, Inc. formed the business a year ago as a nonprofit corporation. They are now not received they are happy being nonprofit.
Issues: Should the corporation change from a nonprofit organization to a for-profit one.

What should be included in our independent contractor agreement?

Law: Directors and officers are prohibit from receiving gains or financial profits from a non-profit corporation. They are as well as forbidden from participating in political campaigns or legislative activity.

Analysis: As stated by the Harvard Business Service, companies that shift under the IRS section 501 © are eligible for special exemptions from only federal income tax. Delaware also offers unique personal liability testimonial to volunteers and directors of the corporation as well as liability protection. just about areas to consider, as outlined on Social Edge, before displacement to a for-profit corporation are:
What circumstances make this spiritual rebirth appropriate?

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  For instance, you may want to change status because you try out investment funds to smooth fluctuating cash go down so that you can offer consistent services. Or the legal age of your income derives from sales, and for-profit status may enable you to expand beyond mission-related items.How should your non-profits assets be valued? If your organizations assets are largely in the form of presenter lists, you leave alone be asset-poor when you convert because the donor lists may no longer be relevant. This may limit your ability to happen loans or lines of credit despite your for-profit status.What should happen to the financial assets that outride after the conversion? If your organization has substantial capital or real estate assets acquired with tax exempt donor funds, will the donors object to them being acquired by a for-profit entity? ...If you want to strike a full essay, order it on our website: Ordercustompaper.com



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