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Types of non-profits1 ?0 m6 V" C0 a0 Z2 Z& [
There are 2 types of non-profit organizations: private and public.7 \" Q$ L9 R+ s- j
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You 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.! e$ [ c7 z4 X7 o: V% I
2 [6 D) l$ B) N( Y/ c1 |Private
. e" L, I. \8 k) @" }* `At least 2 people are needed to form a private non-profit organization. A private non-profit organization has the following restrictions:
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0 P. |+ {1 B+ B# X% v- F3 b- zcannot have more than 50 shareholders or members
, ?( o& d$ \3 `cannot sell shares or memberships to the public
I, O |# h/ a& rrestricts or forbids share or membership transfers
, _" ^' N& M1 H7 ]Public
; d0 Y i9 ?% A9 z4 \6 ^5 cAt 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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