Comment by gamblor956
2 hours ago
The non-profit received shares in the for-profit as a result of the transfer. Those shares are theoretically worth hundreds of billions.
If it had been a for-profit company contributing assets to another for-profit company, the transaction would not have had any different tax consequence.
Wasn't an arms length transaction so shennanigans (or lack of) cannot be proved.
(This is just a thought IANAL)