Corporate Shell Games???

[Troll Control]

I'm not sure exactly how this stuff works, but could someone fill me in on why HLA is registered as two SEPARATE CORPORATIONS?

One is Hidden Lake Academy, Inc. - FOR PROFIT

The other is HLA, Inc. - NOT FOR PROFIT

How is this possible?  Sounds like a little shell game to me...

[juniper2]

Are set up the same way....

[Anonymous]

Hmmmm that is interesting.

I wonder how the IRS would feel about that little nugget?

[Troll Control]

On 2006-03-06 06:06:00, Anonymous wrote:

"Hmmmm that is interesting.



I wonder how the IRS would feel about that little nugget?"

I really don't know.  I don't know enough about the NFP corp's to comment, but I sure am interested in hearing from someone who does know about such things.

[juniper2]

NFP/FP gray areas....there are strict rules
about how one goes about it(NFP)..SHifting money,
from one to the other...for example...

[Troll Control]

OK, I got SOME clarification of the FP/NFP shell game from an HLA employee.

Years ago HLA got into some legal problems surrounding running a FOR PROFIT wilderness program using the Appalachian Trail.  Apparently it is a no-no to make money while using a federal resource.

So, they "split" HLA into two corporations, one being "not for profit" so they could continue to use the AT as part their program.

This is what they told employees, however it seems REALLY SHADY to the outside observer.  There is probably a lot more to that mess than meets the eye.  Nothing that can't be handled by a forensic accounting audit though.  Can't wait to see the results of THAT inquiry.

_________________
"Compassion is the basis of morality."

-Arnold Schopenhauer[ This Message was edited by: Dysfunction Junction on 2006-03-06 11:04 ]

[Anonymous]

On 2006-03-06 11:03:00, Dysfunction Junction wrote:

"OK, I got SOME clarification of the FP/NFP shell game from an HLA employee.



Years ago HLA got into some legal problems surrounding running a FOR PROFIT wilderness program using the Appalachian Trail.  Apparently it is a no-no to make money while using a federal resource.



So, they "split" HLA into two corporations, one being "not for profit" so they could continue to use the AT as part their program.



This is what they told employees, however it seems REALLY SHADY to the outside observer.  There is probably a lot more to that mess than meets the eye.  Nothing that can't be handled by a forensic accounting audit though.  Can't wait to see the results of THAT inquiry.



_________________

"Compassion is the basis of morality."



-Arnold Schopenhauer[ This Message was edited by: Dysfunction Junction on 2006-03-06 11:04 ]"

Perhaps it's true, but does seem a bit shady. Many FP wilderness programs are run on government land, for a fee. Programs must also follow some guidelines for use.

[Troll Control]

I'm not sure exactly how this stuff works, but could someone fill me in on why HLA is registered as two SEPARATE CORPORATIONS?



One is Hidden Lake Academy, Inc. - FOR PROFIT



The other is HLA, Inc. - NOT FOR PROFIT



How is this possible?  Sounds like a little shell game to me...

This was dead on and is now central to the case.  Boy, the people who provided this information all along turned out to be bona fide after all.  Go figure.