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/biz/ - Business & Finance

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12686344 No.12686344 [Reply] [Original]

Please explain something to a literal retard.
In the USA there is a "non-profit" designation for companies.
What does this mean? Why would someone file for non-profit status?
Is it a good or a bad thing? Etc. I am having a hard time understanding how the CEO of a non-profit company is driving a Bugatti to work every day, and how is that any different from a "normal" company?

>> No.12686358

Why couldnt the CEO drive a bugatti? this poorfags...

>> No.12686369

it means they pay less taxes to run their company.

>> No.12686379

>>12686344
Non-profit means they don't have fiduciary responsibility to the people who "invest" in them. It's a designation for corporations that have some kind of social goal in mind and don't want stakeholders to get in the way of it. Non-profit makes it possible for your company to collect donations without being obligated to provide something to the person who donated.

>> No.12686599

>>12686379
So it's basically a scheme to make more money right.