Marvel at the beauty of Michael Moore's 10,000 sq ft summer mansion!

To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
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Exemption Requirements - Section 501(c)(3) Organizations

Nothing is said that a non-profit company cannot make a profit itself. Just that private shareholders or individuals cannot be the beneficiaries of those earnings. Any profits must benefit the non-profit company's stated goals (e.g. feed the homeless, etc). It must use income or profits to further their missions.


INURE:
A section 501(c)(3) organization must not be organized or operated for the benefit of private interests, such as the creator or the creator's family, shareholders of the organization, other designated individuals, or persons controlled directly or indirectly by such private interests. No part of the net earnings of a section 501(c)(3) organization may inure to the benefit of any private shareholder or individual. A private shareholder or individual is a person having a personal and private interest in the activities of the organization.
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Inurement/Private Benefit - Charitable Organizations
 
deafskeptic said:
I used one of those links to look up tax structures on non profits last night.
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Right. No one want to go right to the source. They want to use some goof ball site that condenses in down in 10 words or less. It's probably an attention span issue.

"But, but, but....I don't want to read the book! That's too hard! Can't you just tell me what it's about?"
 
Fitch: U.S. Non-Profit Hospitals Profitability at Risk by Potential Medicare Cuts
Fitch: U.S. Non-Profit Hospitals Profitability at Risk by Potential Medicare Cuts - Yahoo! Finance

Gasp! Non-profit hospitals making a profit! Yet the money goes back into the hospitals. No one owns the hospital. No shareholders. Cannot benefit financially the owners. Etc. How can a non-profit organization grow? By making a profit, of course. Some are dependent on grants and donations while other are dependent on revenues produced from sales and even services.

Again, "non-profit" is a misnomer and it does not mean a non-profit organization cannot make a profit itself. They can, and do.
 
Sounds like people are actually denying that Michael Moore is not a millionaire, or even a multi-millionaire.

Interesting.
 
Sometimes sarcasm is difficult to see, but it is not nearly as hard to detect as self-importance is. :wave:
 
Nor do I.

You know, one of the questions in a mental status exam is "Do you see things other people don't?":lol:
 
jillio said:
Nor do I.

You know, one of the questions in a mental status exam is "Do you see things other people don't?":lol:
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I see egotism that some others cannot see. I see unadulterated bias as well. Do these count?
 
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