Gregory's Server
@cjrando ok maybe i just dont know enough about how things work but… how can you be non-profit and gain hundreds of millions of dollars?
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2 comments
@foervraengd "Nonprofit" is a misnomer .. it really means "not for private profit." It's just a tax status that means any profits are supposed to serve a social good and not go to executives etc. Still lots of room for abuse of their supposed function 😑 |
@foervraengd @cjrando for all sorts of reasons. Non-profit simply means that profit isn't the driving motive behind whatever you do (along with various rules about governance and ownership, e.g. can't have shareholders you pay dividends to). It is still sensible to build and maintain cash reserves to support anything like unexpected costs for equipment/infrastructure/legal defense etc. The Wikimedia Endowment Fun this discusses provides grants to support other projects.