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That is not what non-profit means. It means that the IRS does not tax you. There are many different kinds of non-profits and none of them are required to balanc
by asadotzler 3y ago
That is not what non-profit means. It means that the IRS does not tax you. There are many different kinds of non-profits and none of them are required to balance income and expenses -- many save far more than they spend and some spend more than they save, they're simply not pulling profits out for investors.
- nhumrich 3y agoThats also not what non profit means. There are many kinds of non-profits and some of them aren't exempt. There is a no tax incentive to non profits that qualify (501c), but the definition is, quite literally, that they can't turn a profit. In other words, excess cash cannot be divied out among its owners.