07-30-2012, 05:37 PM
Well, since everyone insists on quoting Dakota I can see he is tragically confused as usual.
A non-profit is an organization which is non-profit-distributing, that is, not returning profits to their owners or directors. Any profit is channeled back into the institution. Yeah, endowments etc. Endowments create income for the College so it is not just being "stashed away" it is helping to sustain the organization. The Board of Directors and the Administration do not own shares in the institution and do not "profit" (aside from salaries for the Administration).
Profit is not the same thing as income.
A non-profit is an organization which is non-profit-distributing, that is, not returning profits to their owners or directors. Any profit is channeled back into the institution. Yeah, endowments etc. Endowments create income for the College so it is not just being "stashed away" it is helping to sustain the organization. The Board of Directors and the Administration do not own shares in the institution and do not "profit" (aside from salaries for the Administration).
Profit is not the same thing as income.