Can anyone explain NHRA?

[Joe Pinkston]

Originally Posted by dartman

A non-profit organization (abbreviated "NPO", also "not-for-profit") is a legally constituted organization whose objective is to support or engage



Whereas for-profit corporations exist to earn and distribute taxable business earnings to shareholders, the nonprofit corporation exists solely to provide programs and services that are of public benefit. Often these programs and services are not otherwise provided by local, state, or federal entities. While they are able to earn a profit, more accurately called a surplus, such earnings must be retained by the organization for its future provision of programs and services.

If this wording, or something simular to it was part of the tax codes back in the mid 50's then that could explain alot.

It was before my time, but I guess NHRA was originated as an idea to provide services that were viewed as being of public benefit. I'm not sure you could sell that idea today (then again maybe you could), but I guess it was easy to prove that what they were doing was something of public benefit back then. I would assume as long as the terms of the original charter were not broken in any way it would still be legal and valid up until today.

Bruce; thanks for the link to the IRS documents.