CouchSurfing assets go to NH-based charitable fund

By HOLLY RAMER | October 8, 2011 | 1:20 PM EDT

CONCORD, N.H. (AP) — An international social network that connects travelers with free accommodations is now a for-profit company, and New Hampshire stands to benefit., which was started by New Hampshire native Casey Fenton and others in 2003, operated as a nonprofit until this summer, when it converted to a for-profit corporation. As part of the conversion, the company was required to put its assets into a charitable fund.

The fund, administered by the New Hampshire Charitable Foundation, will award grants to programs that foster appreciation of different cultures. Programs that serve children and young adults will be given preference, as will New Hampshire-based projects.