04-18-2005, 11:42 AM
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Banned
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Join Date: May 2001
Location: Taking lessons at Cobra Kai Karate!
Posts: 14,928
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Quote:
Originally posted by 33girl
I was told that a nonprofit must use any money it makes for operations or philanthropic purposes, and a not-for-profit doesn't set out to make a profit but can keep it if it does (i.e. a hospital is a not-for-profit entity). I didn't say that was definitely the difference between a GLO and the GLO's foundation, just maybe.
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http://www.nonprofits.org/npofaq/01/09.html
-Rudey
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