Search results
Results from the WOW.Com Content Network
This is the reason why a for-profit organization is not exempted any tax. Subsequently, at times running a not-for-profit corporation can be more difficult. Although both for and not-for-profit need a good decision making body however the aspect of serving the public puts an extra responsibility on the members of the board. [9]
As a matter of law, in the 36 states that recognize this form of business, a benefit corporation is intended "to merge the traditional for-profit business corporation model with a non-profit model by allowing social entrepreneurs to consider interests beyond those of maximizing shareholder wealth."
The L3C structure was designed by Robert M. Lang, Jr., who was the CEO of a New York-based family foundation. [4] Lang developed the structure as a way for foundations to clear tax and regulatory hurdles when it came to donations. With the first L3C statute being enacted in 2008, L3Cs are considered a relatively young legal form of business ...
Also, what is the value of giving up control of the for-profit subsidiaries? If OpenAI were to diminish the control that its nonprofit has over its other business entities, a regulator may require answers to those questions. Any change to OpenAI's structure will require it to navigate the laws governing tax-exempt organizations.
OpenAI is changing its corporate structure. The changes will likely give it more leeway over decisions and a defense against activist investors. But strategy advisors say it'll need to get more ...
Last month, Musk asked a federal court to stop OpenAI from moving to a for-profit business structure. In the last year, Musk has twice sued OpenAI in an effort to stop the startup from adopting a ...
OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter, who said its $150 billion valuation will be contingent ...
By creating, expanding, and improving upon public utilities, a governmental body may attempt to improve its image or attract investment. Traditionally, public services have been provided by public legal entities, which operate much like corporations, but differ in that profit is not necessary for a functional business.