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Username: BrianC
Date/Time: Sun, October 15, 2000 at 8:02 AM GMT
Browser: Netscape Communicator V4.75 using Windows 98
Score: 5
Subject: www.corenic.org

Message: 		 

 
http://corenic.org/about_core/fact.htm states:

"CORE is a non-profit membership association of domain names registrars founded as result of a plan..."

You can even read the Articles of Association and Regulation of Association for their organization at:

http://corenic.org/about_core/about.htm

Since you seem to be yet another poster confused about the forms of business organization (no criticism intended), I'll explain how CORE can be a member of Afilias, LLC, and still be a non-profit organization.

As you may have read, each member company/organization of Afilias, LLC holds ownership of 5.263% of the Afilias entity. If Afilias, LLC makes $1 million, CORE's take is $52,630 (assuming they have utilized the pass-through tax ability of an LLC). That $52,630 is counted as income for CORE, and must be used and taxed according to the rules of non-profit organizations. So they're still a non-profit organization.

I've always felt the term "non-profit organization" is a bit misleading. To survive, EVERY company and organization must find a way to generate revenue (e.g. even the Red Cross needs to generate money so that it can pay its expenses). The real difference between a non-profit organization and a for-profit organization is how that money is used.
 

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