Can also be used in business, but there are differences compared to a regular company.
Requires at least 2 board members. Money can only be used towards the goal set in its charter. By definition, they can't make a profit, that means you can't take out the profit as dividends, a non-profit can only pay a salary to its employees.
But the advantages are the following, no equity. Then there is also no equity to claim against if the members of the board have not shown a significant degree of negligence in the management of the non-profit organization.
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