Comment by unsungNovelty
2 years ago
> 501(c)(3) tax-exemptions apply to entities that are organized and operated exclusively for religious, charitable, scientific, literary or educational purposes, for testing for public safety, to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals.
Signal foundation is a non-profit 501(c)(3). It is literally and legally a charity.
Charities aren't charities in the colloquial sense of the word. It's not a truly altruistic collaboration of volunteers giving their time to help a cause.
Non-profit simply means that every bit of revenue made goes back into the company instead of given out to shareholders. Which includes paying your labor.
It being a non-profit is exactly why we can view the operating expenses and salaries of the public facing executives. For accountability.