Yes, this is possible. However, the reverse is not true. Section 10.108 of the Business Organizations Code (BOC) prohibits a Texas nonprofit corporation may not convert to a for-profit entity. If your wish to merge your for-profit entity with a nonprofit, there are certain restrictions. Section 10.010 of the BOC requires that the Texas nonprofit corporation continue as the surviving entity to the merger. In addition, section 10.010 of the BOC prohibits a Texas nonprofit corporation from merging with another entity if the Texas nonprofit corporation, because of the merger, will lose or impair its charitable status. If these conditions are met, a merger may be a viable option for the nonprofit entity.
The world may be full of problems, but Americans are donating billions to charity to help.
In a world of almost non-stop negative news and reports of violence it’s hard to imagine the world is headed in the right direction. But, don’t believe everything you see on the news. Americans remain more committed to ever to helping their fellow Americans and those...