More concerningly is this going to trial in the US’ current governmental “degraded” (to put it lightly) condition. NFPs get a bunch of concessions and benefits to being such. It’s not unheard of for NFPs to have for profits subsidiaries but I feel like letting them bootstrap into FP, often on the taxpayers/states dime should be, legally speaking, a no no.
More concerningly is this going to trial in the US’ current governmental “degraded” (to put it lightly) condition. NFPs get a bunch of concessions and benefits to being such. It’s not unheard of for NFPs to have for profits subsidiaries but I feel like letting them bootstrap into FP, often on the taxpayers/states dime should be, legally speaking, a no no.
It should generate a retroactive instant tax bill.