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How does that not make sense. That’s what it is. Non profit has no charity requirements
by tsunamifury 3y ago
How does that not make sense. That’s what it is. Non profit has no charity requirements
- bombcar 3y agoMost people think of non-profits as charities but there are various types, some more common than others, such as "mutual-benefit nonprofit corporation".
- yieldcrv 3y agothe non profit world uses those terms ambiguously it took me a while to parse when I was learning and setting up my own I paid estate and non profit lawyers to give me relevant case law and journals to understand. Really powerful stuff to learn before you need it.
- dragonwriter 3y ago> How does that not make sense. That’s what it is. No, its not. Nonprofits can retain unlimited surplus income. They are called nonprofit or not-for-profit because they don't return profits (either directly or through a claim on assets) to some set lf stakeholders. The upthread post invented a false rule based on a wrong (if popular) interpretation of a name, and then invented a conspiracy theory about people gaming that rule which doesn't exist in the first place.