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> Is it possible for some clever business person to start a non-profit, amass a bundle of money, convert to for-profit, and then own the bundle of money to do w

> Is it possible for some clever business person to start a non-profit, amass a bundle of money, convert to for-profit, and then own the bundle of money to do with as they see fit? Not a lawyer, but as the Ghost Foundation is not a charity, the trustees can currently do whatever they want with the money.

adolph 2y ago
Their about page claims non profit, Wikipedia and others say registered in Singapore but I don’t see anything under “ghost” as a society [0] or as a charity [1]. For something that has “believe in being transparent” in the about page, the lack of any registration number or a link to the touted constitution is odd. DNS registrant is from West Yorkshire, GB [2]. 0. https://eservices2.mha.gov.sg/ros/search-society https://eservices2.mha.gov.sg/ros/search-society 1. https://authoring.charities.gov.sg/ https://authoring.charities.gov.sg/ 2. https://www.whois.com/whois/ghost.org https://www.whois.com/whois/ghost.org
- ValentineC 2y ago
  > Their about page claims non profit, Wikipedia and others say registered in Singapore but I don’t see anything under “ghost” as a society [0] or as a charity [1]. Ghost Foundation is a Company Limited by Guarantee [1] in Singapore. The UEN is 201605007D. As I wrote above, it's not a charity, and therefore doesn't need to have charitable goals. [1] https://ghost.org/changelog/moving-to-singapore/ https://ghost.org/changelog/moving-to-singapore/
  - adolph 2y ago
    Seems like it’s filings and meetings are done about this time of year. [0] The move to Singapore is super interesting, esp with dsivers input. Thanks for linking to it. 0. https://www.tis.bizfile.gov.sg/ngbtisinternet/faces/oracle/webcenter/portalapp/pages/TransactionMain.jspx?selectedETransId=dirSearch https://www.tis.bizfile.gov.sg/ngbtisinternet/faces/oracle/w...

4 ms·

> Is it possible for some clever business person to start a non-profit, amass a bundle of money, convert to for-profit, and then own the bundle of money to do w

by ValentineC 2y ago

adolph 2y ago
Their about page claims non profit, Wikipedia and others say registered in Singapore but I don’t see anything under “ghost” as a society [0] or as a charity [1]. For something that has “believe in being transparent” in the about page, the lack of any registration number or a link to the touted constitution is odd. DNS registrant is from West Yorkshire, GB [2]. 0. https://eservices2.mha.gov.sg/ros/search-society https://eservices2.mha.gov.sg/ros/search-society 1. https://authoring.charities.gov.sg/ https://authoring.charities.gov.sg/ 2. https://www.whois.com/whois/ghost.org https://www.whois.com/whois/ghost.org
- ValentineC 2y ago
  > Their about page claims non profit, Wikipedia and others say registered in Singapore but I don’t see anything under “ghost” as a society [0] or as a charity [1]. Ghost Foundation is a Company Limited by Guarantee [1] in Singapore. The UEN is 201605007D. As I wrote above, it's not a charity, and therefore doesn't need to have charitable goals. [1] https://ghost.org/changelog/moving-to-singapore/ https://ghost.org/changelog/moving-to-singapore/
  - adolph 2y ago
    Seems like it’s filings and meetings are done about this time of year. [0] The move to Singapore is super interesting, esp with dsivers input. Thanks for linking to it. 0. https://www.tis.bizfile.gov.sg/ngbtisinternet/faces/oracle/webcenter/portalapp/pages/TransactionMain.jspx?selectedETransId=dirSearch https://www.tis.bizfile.gov.sg/ngbtisinternet/faces/oracle/w...