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<blockquote data-quote="LibertyTurns" data-source="post: 791857" data-attributes="member: 789"><p>[USER=3199]@ncjacket79[/USER] There’s a lot of misunderstanding about what “no for profit” actually means on here. It does not mean makes no profit. It means you do not have shareholders that can profit from the business & the non-profit tag is more of a tax avoidance issue than anything else because they “provide a community benefit”. Non-profits are hugely profitable in the United States and many people get filthy rich off them. I looked this up & for example Cleveland Clinic generated $10B in revenue in 2019 generating nearly $400M in profit. I read somewhere a while back that the non-profit medical industry generates somewhere around $20B in profit annually. Big money & they only have to give a token amount back to the community to maintain tax exempt status. Amazing what they get away with, but money buys politicians & politicians butter the bread.</p></blockquote><p></p>
[QUOTE="LibertyTurns, post: 791857, member: 789"] [USER=3199]@ncjacket79[/USER] There’s a lot of misunderstanding about what “no for profit” actually means on here. It does not mean makes no profit. It means you do not have shareholders that can profit from the business & the non-profit tag is more of a tax avoidance issue than anything else because they “provide a community benefit”. Non-profits are hugely profitable in the United States and many people get filthy rich off them. I looked this up & for example Cleveland Clinic generated $10B in revenue in 2019 generating nearly $400M in profit. I read somewhere a while back that the non-profit medical industry generates somewhere around $20B in profit annually. Big money & they only have to give a token amount back to the community to maintain tax exempt status. Amazing what they get away with, but money buys politicians & politicians butter the bread. [/QUOTE]
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