What do we mean when we say “nonprofit”? The NFL adds confusion

People are usually surprised when we ask about different nonprofit organizations and list the National Football League as an example. But the National Football League is not only a nonprofit organization; it has been tax-exempt as a trade association under Section 501(c)(6). This is so despite the fact that, according to its fiscal year 2013 Form 990 (which is the latest one available on GuideStar), it had annual revenue of $326.8 million, and a surplus of almost $9 million. The League has announced that it is giving up its tax-exempt status. In a letter to members of Congress, it said it is giving up its tax-exempt status to eliminate “the distraction” caused by its status. According to an...

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October 29, 2024

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What do we mean when we say “nonprofit”? The NFL adds confusion

What do we mean when we say “nonprofit”? The NFL adds confusion