• February 2019
    M T W T F S S
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Can you sell a nonprofit corporation? Even if the assets can’t be sold, can someone pay me in exchange for control over the corporation?

There are a few options available to you if you want to remove yourself from a nonprofit, but the overall theme in the answers you’ve already been given are correct—this isn’t a situation where are supposed to make money.

Options you may consider:

  • Merging the nonprofit with another existing, similar nonprofit
  • Resigning your position to another board member (assuming you have a board)

Keep in mind that a nonprofit can’t be sold because it’s not really owned by anybody. In fact, if the entire nonprofit dissolves, any money left over after remaining debts has to be given to another nonprofit—nobody walks away with any cash.

It sounds like you should probably talk to a nonprofit attorney to better understand the legality associated with this type of entity. LawTrades can put you in touch with a knowledgeable nonprofit attorney that can guide you in the right direction. Check out our website and feel free to get in touch for a consultation.

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