When we think of the notion of corporate restructuring—i.e., mergers, acquisitions and conversions—we tend to associate these activities with for-profit entities, such as AT&T purchasing Time Warner or Disney acquiring Fox in staggeringly expensive and complicated deals that shake up markets at their foundation. However, Internal Revenue Code (IRC) 501(c) tax-exempt nonprofit organizations engage in corporate restructuring, too, and these activities can be equally complex, bringing their own set of unique considerations.
A nonprofit organization will restructure when it wants to give up its tax-exempt status and become a taxable for-profit entity, or when it wants to merge, acquire or consolidate with another nonprofit organization. Sometimes, an existing for-profit may even want to become a nonprofit organization.
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