Non-Profit Ikea

TaxProf has the details, via the Economist, of how the furniture giant Ikea is owned by a non-profit foundation dedicated to "innovation in the field of architectural and interior design." At $36 billion it's the world's wealthiest charity, and not particularly transparent. Other businesses owned by or closely linked to non-profits include fashion designer Geoffrey Beene, the food brand Newman's Own, and the St. Petersburg Times newspaper in Florida.