Yes. ACQ is a single-member LLC that has inherited the nonprofit tax status of its single member.

Some people mistakenly believe that designation as an LLC is inconsistent with being a nonprofit. However, in Massachusetts where ACQ is organized, there are no specific limitations on limited liability companies, which can  “carry on any lawful business, trade, profession, purpose or activity.”  As a single-member limited liability company, ACQ is a disregarded entity that receives the benefit of its single member’s tax exempt status.