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by baking
831 days ago
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It is hard to think of a case of a public charity that owns a controlling interest in a for-profit subsidiary and that is all they do. The Morman church owns a lot of businesses, but it is still the Morman Church. Note that in the US, private foundations are not permitted to own a controlling interest in a for-profit company, so the example has to be a public charity. IKEA is controlled by a Dutch nonprofit foundation, but it has no obligation to the public except to give away a small portion of the profits. https://en.wikipedia.org/wiki/Stichting_INGKA_Foundation https://www.economist.com/business/2006/05/11/flat-pack-acco... |
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