@anildash I’m still trying to figure out how this non-profit...

@anildash I’m still trying to figure out how this non-profit / for-profit organization is supposed to work. Hopefully the new CEO will figure it out.

Like 17 Nov 2023 at 21:41 | Wall-to-wall | Open on sciences.social

4 comments

endrift

@ktaylor @anildash They stopped being a non-profit in late 2018/early 2019 and transferred everyone over to a "limited profit" organization. Whatever that means.

17 Nov 2023 at 22:06 | Open on social.treehouse.systems

Dr. Kevin P. Taylor

@endrift @anildash Yeah, it’s pretty convoluted. But my understanding is the for profit is owned by the 501 (c)(3) but the first few trillion dollars of profits must go to the for profit shareholders or some such and only then to the non-profit, pro rata.

18 Nov 2023 at 2:39 | Open on sciences.social

endrift

@ktaylor @anildash They didn't disband the 501(c)(3)?? They migrated all of the employees over to the LLC, but some remained on both for administrative reasons. I tuned out shortly after the transition since I was too busy recovering from my abusive ex and wound up quitting in early 2019, only a few months after the LLC happened.

18 Nov 2023 at 2:59 | Open on social.treehouse.systems

Dr. Kevin P. Taylor

@endrift @anildash Thanks for sharing your experience — quiet something to have experienced from the inside. Also I hope you are safe now.

18 Nov 2023 at 16:58 | Open on sciences.social

Go Up