What type of property can a nonprofit organization own?

Nonprofit organizations in South Dakota are allowed to own a variety of types of property. Generally speaking, a nonprofit organization can own tangible and intangible property, real property like land and buildings, personal property like furniture, and intellectual property like patents, copyrights, and trademarks. Nonprofit organizations may also own investments, such as stocks, bonds, and mutual funds, which can be used to generate income for the organization to further its goals. Nonprofits may also receive donations of property in the form of gifts, bequests, and other transfers. This type of property can range from personal assets like art or jewelry to intellectual property rights. Nonprofit organizations may also use their property for profit-making activities, such as renting out a building for a fee or selling products. However, the proceeds of such activities must be used to further the organization’s charitable or educational goals. Finally, nonprofit organizations are allowed to own, establish, and operate for-profit subsidiaries, which are separate operating entities from the nonprofit organization. The purpose of such subsidiaries must be to further the organization’s charitable mission. The profits generated from the subsidiary must be used to further the organization’s charitable goals.

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What type of property can a nonprofit organization own?

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