- Dec 28, 2009
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....which actually means nothing when it comes to being frugal with your money for your benefit. It is quite savvy of them, however, because "true nonprofits" often receive major discounts that can be written off by other profitable businesses as "charitable." As well as, donations made toward their organization are tax exempt and they can apply for public and private grants.
While I don't necessarily agree with putting AS cheerleading in the same societal benefit as curing cancer....well, if they meet the criteria of the IRS, why not? I'm not going to bash or laud any business for being profitable or nonprofit, but I'm also, not going to paint one as being more saintly than the other. There are a multitude of benefits they gain under an NPO designation....and, it's no secret nonprofits collaborate closely with some of the most profitable businesses around.
<Forbes: Nonprofit Millionaires>
<Why the Super Wealthy Operate Non-Profits>
<7 Major Benefits of Nonprofit Collaboration>
(and yes, I underlined collaboration for a reason)
I don't disagree at all, but I think having a board that gets a paycheck is much different than Varsity who is trying to make absolutely as much profit as possible. Much of my problem with Varsity is that they often do not care about anything BEYOND the financials... You have a big gym that brings them money? You can do anything, and that has been proven. My hope is that this truly is about making the sport better, rather than trying to become billionaires.