3 ms·
It is not a non-profit. It is explicitly a for-profit private company because there are many things a non-profit is legally prohibited from doing. http://www.f
by zrail 11y ago
It is not a non-profit. It is explicitly a for-profit private company because there are many things a non-profit is legally prohibited from doing.
http://www.forbes.com/sites/kerryadolan/2015/12/04/mark-zuckerberg-explains-why-the-chan-zuckerberg-initiative-isnt-a-charitable-foundation/ http://www.forbes.com/sites/kerryadolan/2015/12/04/mark-zuck...
- tedmiston 11y ago> Poon noted that a charitable foundation cannot own more than 10% of a company’s stock. If at some point Zuckerberg chooses to move 10% of Facebook stock into his Chan Zuckerberg Initiative, he is free to do that.
- hkmurakami 11y agoOne requirement he likely wants to avert is the legal requirement for non profits to give away 5% of their assets every year.