Legal Question in Business Law in Indiana

Not-for-profit Child care center

My wife and I own and operate a 100 child daycare center in Indiana. It is becoming increasingly more difficult to stay profitable in todays economy and we are considering converting to not-for-profit. The problem there is we cannot sell the business and property when we are ready to retire if it is a not-for-profit. I am wondering if we could form a not for profit that could purchase the building and property on a long term note and continue to run the business as a not for profit while still being able to secure our retirement equity. Thanks for any advice you can give. Rob


Asked on 9/25/08, 2:30 pm

1 Answer from Attorneys

Re: Not-for-profit Child care center

This is way too complex for this forum. You need to make an appointment with an attorney for an in person consultation. Good luck

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Answered on 9/25/08, 3:24 pm


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