5 ms·

A non-profit with a for-profit subsidiary... Legal, despite the stench.

• moralestapia 2y ago
  (Could still be) illegal. Private inurement is a thing. There are laws written explicitly to prevent this.
  • topspin 2y ago
    > Wrong ? OpenAI's non-profit+for-profit structure is detailed at their own site: https://openai.com/our-structure/ https://openai.com/our-structure/ It's a non-profit with a for-profit subsidiary. Please elaborate on "wrong."
    • aipatselarom 2y ago
      (I'm @moralestapia, but on my phone) Non-profits have a mission that has to be aligned with a public/social benefit. No amount of structuring would help you if it turns out that your activities benefit a private individual/organization instead of whatever public benefit you wrote when setting up the non-profit. All it takes if a judge ruling that [1] is happening, and then it's over for you and all your derived entities, subsidiaries, whatever-you-set-up-thinking-you-would-outsmart-the-irs. Judges can see through your bullshit, they do this 100s of times, year after year. And also, "oh, but we wanted to do this since the beginning" only digs you a deeper hole, lmao. Do they not have common sense? I'm surprised that @sama, whose major talent is manipulat... sorry "social engineering", greenlit this approach. 1. https://www.irs.gov/charities-non-profits/charitable-organizations/inurement-private-benefit-charitable-organizations https://www.irs.gov/charities-non-profits/charitable-organiz...
      • deleted 2y ago
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