Legal Question in Business Law in Texas

having a profit and non profit
I have a for profit business selling medical equipment, I have run into a lot of seniors who dont have the money or coverage they need for items they need, I wanted to establish some sort of non profit to raise funds to buy them the needed equipment if shown to be in need. Can I buy it from my own company if I will be making a profit off of the retail price I will sell it to on the non profit? How can I do this and still stay in business

Asked on 6/11/03, 5:55 pm

Peter Bradie Bradie, Bradie & Bradie

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Re: having a profit and non profit

You could do it, but the appearance of collusion leaves much to be desired. I would not recommend it.

A better approach would be for the non-profit to pay a salary to you, and your for-profit business sells the equipment at cost to the non-profit.

Answered on 6/11/03, 6:32 pm

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