Legal Question in Business Law in Pennsylvania

Selling a Non Profit

I'm the founder of a non profit organzation. The company is a theatre company, and as with most non profit organzations, there is little money. (at this time we only have a net worth of $16) Any expenses that come up, I've been paying myself.

I'm in the middle of forming an LLC, and was wondering if it's possible for the new company to purchase the non profit and obsorb it into the LLC?

Thank you


Asked on 8/20/05, 10:29 pm

1 Answer from Attorneys
Mark Johns Mark Johns, Esquire

Re: Selling a Non Profit

The LLC could not purchase the non profit however the LLC could certainly purchase the assets of the non profit.

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Answered on 8/21/05, 8:37 am


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