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how does a nonprofit 'sell itself' to a for-profit entity? my understanding of how nonprofit charters work is that when a charitable organization decides its operations are no longer sustainable, it must be 'taken over' by another nonprofit or else simply dissolved altogether. (edited for concision)



Some of the nuance has been lost in the media coverage. The National Geographic Society will still exist as a non-profit, but it is selling control of its media assets to Fox (and presumably would use the proceeds to fund its remaining charitable work).


Does the IRS look into sales like this to ensure that the assets were sold for a reasonable price? It seems like that would be a pretty big loophole if not.


I'm missing why it's a loophole. Under what circumstances would both parties agree to a sale at an unreasonable price?




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