California  |  Business Law

You certainly can donate the business name to a new non-profit. You can also use the business name in the name of the non-profit, such as the Colorox Foundation does. There are not, however, too many for-profit businesses that would be amenable to conversion to a non-profit. So you should have your plans reviewed by a good non-profit tax attorney.

California does not allow two entities to have the same name. In the example Mr. McCormick gives, "The Clorox Company" and "Clorox Foundation" are sufficiently different that the second can exist with the permission of the first. However, if you wanted a new non-profit to have the identical name, even with permission, it would be turned down by the Secretary of State's office. One way around this is for the existing for-profit business to change its name, thereby making (I think) the name available for the proposed new non-profit.

As far as changing the status of an existing entity from for-profit to non-profit goes, there are so many issues that I'd suggest not attempting it, although with legal and accounting professionals at your side all the way, it could probably be accomplished. Better to start over.

Keep in mind that "non-profit" and "tax exempt" are different concepts, and require complying with different sets of rule.

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