View source for Not for Profit

A not-for-profit (also called ''nonprofit'') [[organization]] is one set up so that no profits from its operation go to private individuals.  Most [[SF clubs]] and [[SF cons]] are organized this way, either officially or practically.  In the [[US]], nonprofit corporations are chartered by the states.  ([[501(c)(3)]] status can be granted to a nonprofit corporation by the IRS.)

Note that [[fannish]] [[conventions]] are not just Not-for-Profit, but don't pay the organizers or volunteers ''anything'' other than (sometimes) reimbursing their out-of-pocket costs and [[membership refunds|membership fees]]. [[UK]] [[cons]] issue token [[groats]].


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