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Some acquisition structures that are common in for-profit acquisitions can also apply in the nonprofit context, such as the purchase of a nonprofit entity's assets and the merger or combination of one or more nonprofit entities. However, the reasons for and consequences of such transactions may differ for nonprofits.

Instead they are, technically, formal legal consolidations. In a merger, one or more non-profit corporations merge into another, with the latter becoming the ?surviving corporation? and the other(s) being automatically dissolved by virtue of the merger.

An asset transfer occurs when one person gives ownership of an asset to another person or to a group of people. Life insurance policies can be used to transfer assets to beneficiaries.

The merger between two nonprofit corporations has the following legal consequences: 1) the separate existence of the corporation that is not the surviving corporation ceases; 2) all assets and liabilities of the merged entities are transferred to the surviving corporation; and, 3) the articles of incorporation and ...

The individual is free from control or direction over the performance of the services involved both under the contract of service and in fact, and. As to such services, the individual is customarily engaged in an independently established trade, occupation, profession or business.

Once you determine that you meet the minimum requirements, you can apply for a city license . All contractors need a license and must register with the Pennsylvania State Attorney General's Office if you're earning or expect to earn over $5,000 from your work.