It is more important than ever that the social web is not controlled by corporations. Today, Mastodon is taking another step towards its founding ideals: independence and non-profit ownership. We're transferring ownership of key assets to a new European not-for-profit entity, ensuring our mission remains true to a decentralised social web, not corporate control.
The difference between for-profit and not-for-profit firms is not whether one makes money and the other one does not. It’s what’s done with that money. The difference is whether the net income is given to the firm’s major shareholders or kept within the firm.
You are confusing cause and effect and you are making a pointless distinction.
If all it took to qualify as a non-profit was to eliminate profit redistribution, we would have every sole proprietorship or small LLC entity turning itself to a 503, and then distributing its excess profit as salaries.
The difference between for-profit and not-for-profit firms is not whether one makes money and the other one does not. It’s what’s done with that money. The difference is whether the net income is given to the firm’s major shareholders or kept within the firm.
You are confusing cause and effect and you are making a pointless distinction.
If all it took to qualify as a non-profit was to eliminate profit redistribution, we would have every sole proprietorship or small LLC entity turning itself to a 503, and then distributing its excess profit as salaries.
You mean 501©, and distribution of excess profit would at minimum evoke an excise tax and might cause loss of 501© status.