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I own a successful, profitable restaurant. I want to convert my restaurant to non-profit status and donate 100% of the profits to various charities. Can I do this and convert the debt on the business to the non-profit organization I've created. A prtion of proceeds from the business will go to debt service and the rest will be to charities.

I also have many employess. Will any of them reap benefits for being employed by a charity?

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