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11-04-2008, 10:41 AM
| | Junior Member | | Join Date: Nov 2008
Posts: 3
| | | Business ownership
What is the name of your state (only U.S. law)? In the state of Ohio, can a 501(c)(3) company also purchase/own a for profit company? Type of companies involved are a non-profit Ballet/Dance Company governed by a Board of Trustees purchasing a for-profit dance studio/company. |
11-04-2008, 12:57 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,468
| | Quote:
Originally Posted by Pjal  What is the name of your state (only U.S. law)? In the state of Ohio, can a 501(c)(3) company also purchase/own a for profit company? Type of companies involved are a non-profit Ballet/Dance Company governed by a Board of Trustees purchasing a for-profit dance studio/company. | **A: why are you asking? |
11-04-2008, 04:53 PM
| | Junior Member | | Join Date: Nov 2008
Posts: 3
| | | Reply: I want to know because my daughter is a member of a non-profit ballet company that is seeking to purchase and operate a for-profit dance company and I didn't think it could be done |
11-04-2008, 05:04 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,468
| | Quote:
Originally Posted by Pjal Reply: I want to know because my daughter is a member of a non-profit ballet company that is seeking to purchase and operate a for-profit dance company and I didn't think it could be done | **A: it can be done under certain circumstances. |
11-04-2008, 06:46 PM
| | Junior Member | | Join Date: Nov 2008
Posts: 3
| | | Thank you very much! | |
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