Nonprofits in the United States and Declaratory Judgments

BY: MRIGENDRA DASA

Jul 24, LOS ANGELES, CALIFORNIA (SUN) - Ragaputra das explained, "A non profit entity is owned by individuals or other private entities in the same way a for-profit corporation is owned." That is not an appropriate statement as a nonprofit organization is never "owned" by anyone or any entity. Neither the Board of Directors of a Nonprofit or its voting members, if the Nonprofit has voting members other than the members of the Board of Directors, do not own the Nonprofit Corporation but do have a fiduciary responsibility to manage the organization.