Legal Question in Business Law in New York
Business
If I have a charity and I am holding an event
and the products used at the event are
provided by another company I own, can I
use the money raised for the company to
make more products?
Asked on 5/27/09, 6:10 pm
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Business
I would think that the money raised at the charity should go to the charity.
If the charity entered into a contract for your product, and it is a 501(c)(3) charity, and you are a board member of the charity and the company, the bid for the contract must conform to IRS and NYS regulations.
Mike.
Answered on 5/27/09, 6:22 pm
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