Largest nonprofits generate millions in revenue

Largest nonprofits generate millions in revenue

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“While the name ‘nonprofit’ implies that there cannot be profit, this is not at all true,” according to Alexis Millett, the rural programs and helpline manager for the Nonprofit Association of Oregon. “Profit is important for an organization to grow, have sustainability, promote staff growth, have a reserve, and other important business implications,” she said in an email. “The bottom line is that that profit must be reinvested into strengthening the organization and meeting its mission.”

Organizations qualifying as nonprofits do not have to pay federal income tax, and some, including churches and hospitals, do not have pay property taxes. But becoming a nonprofit is less about the benefits, Millett said, and more about business structure and purpose.

“Nonprofits are created in response to a community need and have different business structures depending on that need,” she said. “In Oregon, there are three structures: Public Benefit (typically what you think of when you think ‘nonprofit,’ and are normally eligible for 501(c)3 tax exemption); Mutual Benefit (organized to benefit a membership base and are not eligible for 501(c)3 tax exemption); and Religious Nonprofits (churches).”

Source Name: 
East Oregonian

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