To be or not to be!
Posted by admin on April 28, 2008I recently responded to a comment pertaining to ABRA and whether or not they are a Not-For-Profit organization. This comment can be found here http://www.biotrauma911.com/blog/index.php/archive/authors-wanted/#comments
Wikipedia, the free encyclopedia tells us that, “A not-for-profit corporation is an incorporated organization created by statute, government or judicial authority and registered at the Registry of Commerce, that is not intended to provide a profit to the owners or members. It differs from a for-profit corporation substantially as this is organized to provide profits to its owners or members.”
After further research, I can’t find where ABRA is doing anything wrong. It doesn’t appear that ABRA is incorporated or working as a LLC. Based on the information obtained from their website, ABRA is an association only. As such, they can call themselves a non-profit association and not be in violation of any laws, rules or regulations. If they decide to incorporate as ABRA, the not-for-profit designation may not apply.
If anyone has anything to add, please do so.