For Foundations and other non-profits that don't have owners, there are no shares to sell. The assets belong to the "Public" and if the organization winds down,

For Foundations and other non-profits that don't have owners, there are no shares to sell. The assets belong to the "Public" and if the organization winds down, the trustees have to designate another non-profit to receive the excess assets (less liabilities) or they just turn over everything to the government.