X-Message-Number: 20170 Date: Wed, 25 Sep 2002 11:06:14 -0400 From: Subject: Profit/Non-Profit --=====================_388635348==_.ALT Content-Type: text/plain; charset="us-ascii"; format=flowed The question has been raised as to which cryonics organizations are profit/non-profit. Those in charge may correct me if I am wrong, but it is my understanding that Alcor and Cryonics Institute are both non-profit. I'm not sure about some of the smaller, regional-focused organizations. As to the meanings of these terms, under American law, a for-profit corporation is owned by shareholders who elect a board of directors who hire the management, and has a duty to maximize profit return to the shareholders. . A non-profit organization has no shareholders, has a board of directors who hire the management, may or may not have members who may or may not elect the board of directors, and generally has a "break-even" mandate in terms of finances. Non-profits have a number of mechanisms they use to deal with surplus funds: membership rebates/fee reductions, accumulate in capital reserves, and even start for-profit businesses on the side. Some cryonics organizations seem to invest in real estate. It is my understanding that Alcor has a self-perpetuating board of directors (never elected by the membership), and that Cryonics Institute's board is elected by the membership. Again, those in charge may correct me if I am wrong. Some non-profits are tax-exempt by the various governments; some are not. I believe that Alcor and CI are both tax-exempt by most of the authorities. --=====================_388635348==_.ALT Content-Type: text/html; charset="us-ascii" [ AUTOMATICALLY SKIPPING HTML ENCODING! ] Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=20170