It is more important than ever that the social web is not controlled by corporations. Today, Mastodon is taking another step towards its founding ideals: independence and non-profit ownership. We're transferring ownership of key assets to a new European not-for-profit entity, ensuring our mission remains true to a decentralised social web, not corporate control.
You are confusing cause and effect and you are making a pointless distinction.
If all it took to qualify as a non-profit was to eliminate profit redistribution, we would have every sole proprietorship or small LLC entity turning itself to a 503, and then distributing its excess profit as salaries.
I’m definitely not doing that. I’m pointing out that the commenter above is correct and you appear to have a misconception about what non-profit means.
You are confusing cause and effect and you are making a pointless distinction.
If all it took to qualify as a non-profit was to eliminate profit redistribution, we would have every sole proprietorship or small LLC entity turning itself to a 503, and then distributing its excess profit as salaries.
You mean 501©, and distribution of excess profit would at minimum evoke an excise tax and might cause loss of 501© status.
You are right about the code , but you are also making my point about why it matters if the whole endeavor is classified as for-profit or not.
I’m definitely not doing that. I’m pointing out that the commenter above is correct and you appear to have a misconception about what non-profit means.