Nonprofit Merger, Consolidation & Dissolution
NONPROFIT MERGER, CONSOLIDATION & DISSOLUTION
Are you contemplating a nonprofit dissolution and shut down solution for a nonprofit located in the Twin Cities of Minneapolis and St. Paul, as well as throughout greater Minnesota?
Maybe it's Time for a Change
While no nonprofit life cycle will be exactly the same, each nonprofit experiences the organizational steps of a life cycle. Sometimes this could end in acquisition, consolidation, dissolution, or even a merger.
Q. Has your nonprofit completed its mission?
Q. Do you feel like your organization is failing? Is the nonprofit facing debt or financial difficulties? Is it tough to meet payroll because there's no cash?
Q. Should you consider strategically aligning with another organization?
Q. Should your organization go through nonprofit dissolution, merger, or consolidation? What's the difference?
Q. Has the Board of Directors done its due diligence?
The answers to these questions are complicated. Seeking expert advice is important. We help nonprofit leaders assess the best course of action and will facilitate the transition so it's manageable. Because your organization is a nonprofit, it will be subject to special legal procedures, rules, and regulations. The assets of a nonprofit charitable organization belong to the public and are held in trust. This means your nonprofit must give remaining assets to another charity and can't be dissolved like other for-profit companies.
A Positive Resolution
As attorneys who specialize in nonprofit entities, we can conduct a critical analysis for your organization and give you advice that comes from a deep knowledge of the nonprofit sector. We offer invaluable experience when seeking out solutions and provide a stress-free and low-anxiety setting to discuss your options.
Let the legal team at Legal for Good help you as you consider next steps or begin shutting down your nonprofit. Legal for Good will work with you throughout the process, so call us at (612) 284-6441 or send us a message online.