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  2. OpenAI reveals new details about its plan to convert to a for ...

    www.aol.com/news/openai-reveals-details-plan...

    Its current for-profit arm has been governed by a nonprofit board. OpenAI said its existing for-profit arm would become a public benefit corporation with ordinary shares of stock.

  3. Low-profit limited liability company - Wikipedia

    en.wikipedia.org/wiki/Low-profit_limited...

    A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1]

  4. OpenAI looks to shift away from nonprofit roots and convert ...

    www.aol.com/openai-looks-shift-away-nonprofit...

    OpenAI's history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a ...

  5. Mutual-benefit nonprofit corporation - Wikipedia

    en.wikipedia.org/wiki/Mutual-benefit_nonprofit...

    A mutual-benefit corporation can be non-profit or not-for-profit in the United States, but it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [1] It is distinct in U.S. law from public-benefit nonprofit corporations, and religious corporations. Mutual benefit corporations must still file tax returns and pay income ...

  6. Charitable for-profit entity - Wikipedia

    en.wikipedia.org/wiki/Charitable_for-profit_entity

    However, a nonprofit company will not distribute its profits the way a for-profit company does. [5] A limited liability company takes advantage of both nonprofit and for profit sources of capital. An L3C can attract a diverse group of creditors to finance its operations, including private foundations and socially conscious for-profit entities. [6]

  7. What nonprofit debt consolidation is and how it works

    www.aol.com/finance/nonprofit-debt-consolidation...

    Nonprofit debt consolidation is a legitimate, affordable way to manage debt by creating a more manageable repayment structure. Working with a nonprofit debt consolidation service can lower your ...

  8. Model Nonprofit Corporation Act - Wikipedia

    en.wikipedia.org/.../Model_Nonprofit_Corporation_Act

    The Model Nonprofit Corporation Act (MNCA) is a model act prepared by the Nonprofit Organizations Committee of the Business Law Section of the American Bar Association. [1] The MNCA is a model set of statutes governing nonprofit corporations proposed for adoption by state legislatures.

  9. OpenAI looks to shift away from nonprofit roots and convert ...

    lite.aol.com/tech/story/0001/20240926/859bff5c...

    OpenAI's history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a for-profit corporation accountable to shareholders.