What is the process in dissolving the assets in a 501(c3)?

Answer by  sonicfoundation (2597)

Perhaps the most important aspect of dissolving a 501(c)3 in terms of the IRS is to make sure the assets are distributed to another 501(c)3 with a similar mission as the one being dissolved.

Answer by  salsafoodie (3146)

You will need to get the information of the name of the assests which is usually the estate, and then you will need to spread the creditors as needed.

Answer by  Dean (4035)

The dissolution of a tax exempt business must be in accordance with the details of the business charter. The principals should rely on legal advice from an attorney or CPA.