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Types of non-profits
- ~& K. t1 _- P* d( A1 FThere are 2 types of non-profit organizations: private and public.
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+ O& q+ s; h$ V$ W7 iYou should get legal advice if you need help deciding which type of company is best for the needs of your group or if a society is a better legal structure.7 W1 Z8 Y' P8 V( ^- V
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At least 2 people are needed to form a private non-profit organization. A private non-profit organization has the following restrictions:( {( b& w% E# E5 H
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cannot have more than 50 shareholders or members0 N8 [ j) |. l7 ]7 z: M8 G( |
cannot sell shares or memberships to the public1 Z' s* ~( [# L+ e# Z0 b F
restricts or forbids share or membership transfers0 t3 z4 h3 ^6 h- a
Public; C, f$ Y) N1 |. C7 ]3 y- X5 I
At least 3 people are needed to form a public company. A public non-profit organization does not have the restrictions of a private organization. |
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