For-profit successor denied (c)(3) exemption

When the owners of a for-profit company helping agricultural businesses comply with governmental regulations wanted to expand its business, they decided to form a nonprofit corporation that could more readily cooperate with trade associations to garner new clients and increase their market share. The owners of Asmark, Inc., formed Asmark Institute as a Kentucky nonprofit and filed for 501(c)(3) charitable and educational exempt status.

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October 29, 2024

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For-profit successor denied (c)(3) exemption

For-profit successor denied (c)(3) exemption