Immigration updates during the uncertainty of the CoronaVirus.
Business law Q re: 501(c)3 and LLC cooperation
Hello All,
I am unsure if an accounting forum would be more appropriate for this question. I apologize if this is the case but would appreciate any advice regarding the following situation:
Business A is an existing export LLC which deals primarily in used goods.
Would it be legal to create a 501(c)3 to accept donations of the same goods which Business A exports and then provide the used goods to Business A at cost? The mission statement of this 501(c)3 would be to facilitate recycling and to educate the local community about the importance of recycling. Tax deductions would provide businesses and individuals with a motive to donate their used goods.
The 501(c)3 would use Business A as their primary exporter. Business A would then charge the end recipient a shipping, handling,administrative and other fees, resulting in a net profit for Business A. The 501(c)3 would not profit but would charge Business A a fee to cover whatever expenses were incurred in acquiring the items (marketing, transportation, admin, etc.)
Business & Individuals ---- 501(c)3 Recycling Non-Profit ---- For-Profit Export LLC ---- Importer/Recipient
Any input would be greatly appreciated but please, no yes or no answers.
Thank You
HOA Board - Conflicts of Interest
My HOA has 56 units, there are 36
large units and 20 small units, the
HOA Board is comprised of 5
members, 4 who own large units,
who are putting forth a change from
% of sq foot to a level mo.
assessment, under a Davis Stirling
minimum i.e., greater than 50% of
the ownerships vote for passage, in
the above equation the small 20
units are being SLAM DUNKED by
the ''tyranny'' that is the HOA
board, who refuse to re-structure the
voting to make for a fair system prior
to testing issues, they are obviously
''self dealing'', shouldn't this A) be
recognized by the law firm who
penned the CCR proposed changes B)
shouldn't this Board recuse
themselves from voting , given they
are to benefit knowingly, by the
proposed change and violating a
section of the BY-Laws regarding
Conflicts of Interest C) shouldn't a
reputable Law Firm who represents
de facto the Shareholders of the HOA
admonish the Board
Please advise....