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Hybrid Company

What is a hybrid company?

A hybrid company is considered a flexible organization where the rights and powers can be changed to fit many different situations. These can have the same effect as a trust, but in a more straight forward corporate structure. They are also very useful in commercial, inheritance and investment applications. The articles of association and any contract or agreements for hybrid companies need to be tailored to that specific company. These are organization truly unique to unto themselves. Read below where many hybrid company questions are answered by Experts.

Can a nonprofit organization run as a hybrid for a profit company?

A nonprofit organization can work with a for profit company as long as each organization maintains separate boards. Careful record keeping would be necessary to show the separate status of the organizations.

How can someone set up a 501c3 (nonprofit) hybrid business?

A 501(c)(3) is considered a charitable or social purpose. If someone uses this to promote a private business then this would be violating the corporation’s charitable purpose. Although, they can use a private corporation in order to start up and fund a charitable but cannot not be the other way around.

In the state of Massachusetts is it legal to start a nonprofit organization when having people pay a monthly fee and then use a percent of that fee for charitable causes?

According to the 26 US Code 501(c)(3) it states:

Corporations and any community chest, fund or foundation that is organized or operated entirely for either religious, charitable, scientific, testing for public safety, or educations purposes or to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals, no part of the net earning that inures to a benefit of any private shareholder or individual.

Can someone create two companies one nonprofit and one profit?

In many cases and individual can create two companies, but many may feel that the down side to this would be that the individuals will need to show that the nonprofit’s actions are in fact charitable, religious, educational, scientific, literary, fostering national or international in amateur sports competition, and preventing unkindness to children or animals.

When deciding what kind of business to open, or if the business meets all the requirements by the law, or even meet the many requirements made by the IRS, when these requirements are looked at, many questions can pop up. There are many types of companies around the world, and some of those are hybrid companies. For more information on how to start hybrid companies you may need to contact the Experts.

Ask a Business Lawyer

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Law Pro, Attorney
Category: General
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Business Lawyers are online & ready to help you now

Law Pro
Attorney
Satisfied Customers: 1767
20 years experience in business law - sole proprietor, partnership, and corporations
Dimitry K., Esq.
Attorney
Satisfied Customers: 1495
Run my own successful business/contract law practice.
MShore Law
Attorney
Satisfied Customers: 1233
Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

Recent Hybrid Questions

  • I currently have an LLC in Colorado. I originally saw clients

    I currently have an LLC in Colorado. I originally saw clients for counseling but also published a book under the LLC. I have sinced moved to California and no longer conduct counseling but still market the book published under my LLC. I am trying to figure out if I should dissolve my CO LLC and create a new one in CA, or leave the old one in CO or not have an LLC at all? Please adivse.
    Thank you
  • We agreed with my business partner on a job for which I would

    We agreed with my business partner on a job for which I would get $1500-$2000. Job was delayed by a week and next week I couldn't be there 7 days 12h a day to finish it. Now he blames me because he got kicked out of there for not finishing the job on time. Job was delayed for a week not because of me. Because somebody else couldn't finish their job on time. As my partner said that he got only partial money for what was done, he decided not to pay me at all. Because the following week I couldn't be there for seven days from early morning till late night just to finish it by Monday. Meanwhile I was there working. I worked five 10 hour days. I also took my friend to help us for three days. He paid him cash for these three days. So now I haven't get any dollar for my five days. How can I get the money from this person. I still paid for gas getting there and taking extra route to pick up my friend, I still paid babysitter to watch my kids as I expected to get $1500-$2000. And his estimate was one normal five to seven day work. The job was delayed because of floors and baseboard installers hired by house owner. They couldn't finish the job on time and we couldn't paint the house the week before. Owners had to move in by Monday and got mad that all house was not painted. So they cancelled the other check for half of the job (at least that is what my partner said. Don't know for sure if that is true. He called me and told not to come there on Monday). What was left for all the project was maybe one or one and a half day). But we had to finish it in one week instead of two. Plus we had to work the same time with floor workers still finishing their job, owners asked us to go and do separate single rooms on other floors as installers should do their job before. It took extra time going back and forth, preparing for it and cleaning single rooms one by one , instead of cleaning all in once.
    My question is , how can I get my money. In case if the home owner really cancelled the written check, how we can do to get the money for the job done.
  • The tenant is a 66 year old and have been living in a HUD

    The tenant is a 66 year old and have been living in a HUD section 8 apartment building for 14-years he is also the president of the United Tenants Association where he lives and he fight for all the tenants rights and problem they have with management. His rent is 750.00 per month, and HUD pays 500.00 and he pays 250.00. When he was given an eviction notice for some rule violation that he denied to the court in a timely manner, he was told that he had 60 days to work out something with the land lord, and if they did not work anything out there will be a trial. The 60 days will not be up until January 18, 2015. And then there is to be a trial to settle the matter.
    Further, today is only Dec. 20, 2014 and my friend received a letter Dated Dec. 17, 2014 in the mail from the plaintiff attorney titled; REQUEST FOR ENTRY OF DEFAULT (Application to Enter Default). (This is form CIV 100. And the box is checked that say; Enter Clerks Judgment for restitution of the premises only and issue a writ of execution on the judgment. Code of Civil procedures section1174(c) does not apply. (Code of Civil Procedures section 1169) and the box is checked that say; included in the judgment all tenants and other occupants of the premises. The Prejudgment claim of Right of Possession was served in compliance with code of Civil Procedures section 415.46.
    The document also said, Declaration under code of Civil Procedure Section 585.5 (Required for entry of default under Civil Code Proc., Section 585.5(a))
    What is he trying to pull here? And what are my friends options to block this assault and to get into court so a judge or Jury cant here the
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