Legal Question in Business Law in Nevada
501c3 Corporations
Are there shareholders in a 501c3 Corporation? If not, is there a way to have participants in this type of organization to to be compensated without public disclosure of their identity?
Asked on 11/23/08, 2:33 am
1 Answer from Attorneys
Warren Markowitz
Warren R. Markowitz, Esq
Re: 501c3 Corporations
The concept and purpose of a 501c(3) Corp is for charitable purposes, and the profiting of the shareholders is not acceptable. See http://www.irs.gov/charities/charitable/article/0,,id=96099,00.html for additional information from the IRS.
As for compensation of the participants, I do not believe that you can keep their identities a secret as there are subsequent filings requiring disclosure of activities and operations in order to maintain the exempt status.
Answered on 11/23/08, 2:48 am
Related Questions & Answers
-
Contracts How should I get compensated for all my knowledge and 40 yrs experience in... Asked 11/17/08, 11:31 pm in United States Nevada Business Law
-
Photographs The group i belong to recently terminated a relationship with a member... Asked 11/10/08, 8:00 pm in United States Nevada Business Law
-
Merging 2 businesses my sister and i have companys in 2 different states similar... Asked 11/05/08, 12:09 pm in United States Nevada Business Law
-
Business law. If an item has to be postmark on a given date, and is correctly... Asked 11/02/08, 5:37 pm in United States Nevada Business Law
-
Employment can an employer tell you that they will not fire anyone but offer them... Asked 10/21/08, 6:25 pm in United States Nevada Business Law