zlacker

>>isaacf+(OP)
Nice grift by Sam Altman taking all the donations and good will a non profit gets just to flip 180.

He probably would have done the same with his crypto scam startup worldcoin if it would not have failed in every way before he could scam.

>>Lionga+rg
It's weird to me that this is even possible legally (turning a nonprofit into a for-profit).

>>olalon+Xn
You can't. In the U.S., the assets of charity must be permanently dedicated to an exempt purpose.

https://www.irs.gov/charities-non-profits/charitable-organiz...

OpenAI is still a nonprofit. Their Financials are public. A lot of folks use "profit" in a hand-wavey sense to describe something they don't like, like an organization sitting on cash or paying key employees more than they expect. The organization may not be doing what donors thought it would with their money, but that doesn't necessarily mean cash retained is profit.

Recent filings show the organization has substantially cut its compensation for key employees year after year. It's sitting on quite a bit of cash, but I think that is expected given the scope of their work.

That said, their Financials from 2019 look a little weird. They reported considerable negative expenses, including negative salaries (what did they do, a bunch of clawbacks?), and had no fundraising expenses.

https://projects.propublica.org/nonprofits/organizations/810...