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Restructuring a nonprofit corporation

Posted on 1/9/24 at 3:28 pm
Posted by meAnon
Member since Feb 2021
32 posts
Posted on 1/9/24 at 3:28 pm
Hypothetically, I've got this friend that runs a relatively large nonprofit corporation. The business operates 3 distinct divisions, 1 of which is distinctly different in operation and carries significantly higher risk. He has this bright idea to split the one corporation into 2.

His Board of Directors would support this move. Where would he start in getting actual guidance on how to make this happen?
Posted by LSURussian
Member since Feb 2005
127254 posts
Posted on 1/9/24 at 3:30 pm to
The only thing of substance that I learned from reading your post is that you have a friend.
Posted by 756
Member since Sep 2004
14918 posts
Posted on 1/10/24 at 7:46 pm to
DOES your friend know you are going to the Money Talk board for advice for HIM? If so he has no business running a non profit and if not you may be losing said friend if he finds out. And if the Board finds out He is going to lose his job.
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