How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118764
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
10285032
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

A small special district water company says it is both a

Customer Question

a small special district water company says it is both a non-profit and is operating as a single enterprise fund is that legal?
JA: The Expert will know how to help. Please tell me more, so we can help you best.
Customer: Meiners oaks water district says it is both a non profit and entire district is a single enterprise fund. is that ethical and legal ? It was once a mutual water company in rural area in ventura county california serving local farmers. now serves 1,200 residences and a handful of small farms.
JA: Is there anything else the Expert should be aware of?
Customer: They seem completely shady. I don't think they dissolved the mutual of all its shares either. before they took it over.
Submitted: 1 month ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 month ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Expert:  Law Educator, Esq. replied 1 month ago.

Actually they could be a single enterprise fund as well as a non-profit, because they are serving a community purpose or function. Furthermore, the proceeds to the fund are being used to fund the water system and are not intended to be profits to the entity or any individual. There are many corporations out there that are single enterprise funds but are also non-profit due to their purpose and mission of the services that they provide.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.