Len Imbrogno.....Seriously now

Mike Mayhew · 06-06-2007, 11:11 AM

Cut and pasted from George Washington University's School of Business :

........... This definition does not preclude a non-profit corporation from making a profit, which may seem inconsistent with the name non-profit corporation. In fact, non-profit corporations should be governed as if they are a business, and profit-generation should be one of the goals of the non-profit corporation. The owner/CEO must understand that the profits cannot be used to the benefit of its members and must, therefore, understand and adhere to the standards and guidelines that are set and governed by the state in which the non-profit corporation is incorporated..............

Thats how they teach it, perhaps other schools teach differently.

OK, we have really degraded Jim's thread now.
Maybe some folks enjoy learning more about 501c's than they thought they would. [:-laughing-:]

Mike ( madness & ) Mayhem

06-06-2007, 11:11 AM	#20
Mike Mayhew Banned Join Date: Feb 2004 Location: Savannah Ga. Posts: 124 Likes: 0 Liked 0 Times in 0 Posts	Cut and pasted from George Washington University's School of Business : ........... This definition does not preclude a non-profit corporation from making a profit, which may seem inconsistent with the name non-profit corporation. In fact, non-profit corporations should be governed as if they are a business, and profit-generation should be one of the goals of the non-profit corporation. The owner/CEO must understand that the profits cannot be used to the benefit of its members and must, therefore, understand and adhere to the standards and guidelines that are set and governed by the state in which the non-profit corporation is incorporated.............. Thats how they teach it, perhaps other schools teach differently. OK, we have really degraded Jim's thread now. Maybe some folks enjoy learning more about 501c's than they thought they would. [:-laughing-:] Mike ( madness & ) Mayhem