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Not for profit doesn't mean that the people doing the work don't get paid. It means that the entity doesn't exist to payback a financial return to its investors
by d_e_solomon 9y ago
Not for profit doesn't mean that the people doing the work don't get paid. It means that the entity doesn't exist to payback a financial return to its investors.
Think of it this way, a not-for-profit insurance company has to pay its executives, staff, and so forth, while a for-profit insurance company has to do all of that and show a return for its investors.
- IanDrake 9y agoI think you missed the point he was making. When an exec makes 22 million at a for-profit company which produces dividends that might make its way into your 401k people have a hissy fit. When a not-for-profit company pays their execs that much, those same people don't even know, because it's "not-for-profit" they assume it's more charitable somehow. I don't think it was the reality that the prior comment lamented, but people's perception of it. There have been moments in my life where I've wanted to smack smug idiots who, when asked what the do, say "I work for a non-profit doing X." As if that makes them better than the rest of us.