How does ownership of private non-profit organizations (such as universities and hospitals) work?

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I know they have a board of trustees but if they decide to liquidate their organization and sell everything or get bought out by another organization, who gets the money?

In: Economics

Anonymous 0 Comments

If some assets are sold, the money stays in the company to be used towards it’s mission. 

If the whole non profit closes up, typically all it’s assets go to a specialized charity with the express purpose of donating them to further charities. This can vary be region though.