General Discussion
In reply to the discussion: Please allow me to introduce myself [View all]AnotherMcIntosh
(11,064 posts)The phrase "non-profit" or "not-for-profit" is a technical term under the law. It does not mean that the corporation does not intend to make a profit, that it does not make a profit, pr that its funds are distributed, for example, charitable purposes.
A corporation which has a "non-profit" charter is one that does not have shareholders. The particular statutes authorizing the charter of non-profit corporations have language that can vary from State to State, but the basis concept is the same.
Unless a non-profit corporation has a charter in which the founders organized the corporation for charitable purposes, the non-profit corporation doesn't have to engage in any charitable purposes as well. The same is true for other purposes by which a non-profit corporation may be organized.
In some cases, forming a non-profit corporation is a tax dodge for those who form the corporation.
Saying that Taylor "spent years working for several non-profit organizations" is meaningless by itself. If you are implying that he held a non-profit intent and only worked for a modest salary, your assertion that he worked for non-profit organizations doesn't not establish that. If you know that he held a non-profit intent and only worked for modest salaries while working at the non-profit organizations, please post more information showing that.