Why not? They could take all the profit from the sale and distribute it to the executives and remain non-profit.
Even If that didn’t work, it would just mean paying taxes on the revenue from the sale. There’s no retroactive penalty for switching from a non-profit to a for-profit (or more likely being merged into a for-profit entity).
I am not an accountant or lawyer and this isn’t legal advice.
Even If that didn’t work, it would just mean paying taxes on the revenue from the sale. There’s no retroactive penalty for switching from a non-profit to a for-profit (or more likely being merged into a for-profit entity).
I am not an accountant or lawyer and this isn’t legal advice.