Dissolution Clause

Equilibrium Epilepsy Group

Established 11/06/2023

Board of Directors & Executive Director 

Equilibrium Epilepsy Group requests that all assets be donated prior to dissolution. In the event that assets remain upon dissolution, it is requested that all assets be given to the Epilepsy Foundation of Minnesota (TAX ID #41-0874541) to further their mission. 

Transferring Assets

When a nonprofit organization is ceasing existence, it must transfer all remaining assets to another tax-exempt organization or to the government. It is illegal to give any property away to individuals, including board members, volunteers, staff, or beneficiaries.

Minnesota Attorney General

Minnesota nonprofits must provide the Attorney General's Office with prior notice if they intend to transfer substantial assets, merge, convert, consolidate, or dissolve. 

Unless waived, the organization must then wait 45 days before taking the action at issue.