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They technically didn’t get rid of the non profit but instead formed a partially owned for profit subsidiary. In theory non profits are subject to oversight by
by bradleyjg 4y ago
They technically didn’t get rid of the non profit but instead formed a partially owned for profit subsidiary.
In theory non profits are subject to oversight by the state of incorporation’s attorney general. In practice it’s mostly a free for all.
- tapoxi 4y agoThis is the loophole. It's what Mozilla did (Foundation created Corporation, and moved employees there), and even IKEA is technically owned by a nonprofit (Stichting INGKA Foundation).
- bradleyjg 4y agoThe IKEA situation is far more complicated, exploiting gaps in how the laws of several different countries interact.
- Tijdreiziger 4y agohttps://en.wikipedia.org/wiki/IKEA#Corporate_structure https://en.wikipedia.org/wiki/IKEA#Corporate_structure
- croes 4y agoOr Bertelsmann https://en.m.wikipedia.org/wiki/Bertelsmann_Stiftung https://en.m.wikipedia.org/wiki/Bertelsmann_Stiftung