zlacker

>>modele+(OP)
Allowing startups to begin as non-profits for tax benefits, only to 'flip' into profit-seeking ventures is a moral hazard, IMO. It risks damaging public trust in the non-profit sector as a whole. This lawsuit is important

>>therei+4H
I live in Pittsburgh, and UPMC’s nonprofit status as they make billions in profits and pay their executives fortunes, is a running joke. With the hospitals and universities as the biggest employers and land owners here, a big chunk of the cities financial assets are exempt from contributing to the city budget.

>>jimbok+SU
If they are non-profit, they do not make billions in profits. I suspect you mean revenue :)

Exec compensation is another thing, but also not a concern I am super sympathetic to given that for profit companies of similar magnitude generally pay their execs way more they just are not required to report it.

>>whimsi+JX
> If they are non-profit, they do not make billions in profits

Wrong. Non-profits are not called that because they don't make profits, they are called that because they don’t return (even as a future claim) profits to private stakeholders.

>>dragon+a81
show me a single accounting statement with a non-profit listing their 'profits'

>>whimsi+Us1
Take one of the largest teaching hospitals in the world, Cleveland clinic is a non-profit. The Cleavland clinic 2022 annual revenue was >15 Billion and expenses were ~12 billion [0].

They have amassed an endowment fund assets such as stock, which is currently >15 Billion and growing[1]. The exact assets are confidential, but this is a snapshot from 2017, when there it was closer to 10 billion under management [2]

https://my.clevelandclinic.org/-/scassets/files/org/about/fi...

https://my.clevelandclinic.org/-/scassets/files/org/about/fi...

https://my.clevelandclinic.org/-/scassets/files/org/giving/a...