Fiction County Sheltered Workshop is a 501(c)(3)corporation.Day Services,a C corporation operating in the same county,has offered to buy FCSW.If this transaction occurs,what happens to the money Day Services will pay for FCSW?

Question

Quizplus · Accepted Answer

As a 501(c)(3) nonprofit, FCSW's assets must be used for charitable purposes, so the money from the sale would typically go to another nonprofit organization.

Fiction County Sheltered Workshop Is a 501(c)(3)corporation