> Hello Matthew! > > I think that under US tax code the terms "non-profit" > and "not-for-profit" have special, distinct meanings > that govern how the organization must handle income > and profits. Again, not being a tax law expert, I > could not explain what the difference is. The IRS helpfully points out that "Non-profit and not-for-profit are state law concepts." (Experts and non-experts alike can find such info at http://www.irs.gov). UL derives its tax-exempt status from ยง 501(c)(3) of the Internal Revenue Code. This is the section defines "charitable, religious, educational, scientific, . organizations" that are considered "tax-exempt". > As to your second question, I object! Objecting to UL's tax-exempt status? Frank, people who test in glass laboratories shouldn't ...
Or is my understanding of TUV (current and past) in need of revision? Regards, Matt > Regards, > > Frank West > Sr. Engineer > TUV Rheinland of NA > > --- Matthew Meehan <[email protected]> wrote: > > > > Hello Frank, > > > As my UL friends are always quick to point out, > > they > > > are not-for-profit, not non-profit. Not being > > expert, > > > I assume there is some subtle difference that is > > lots > > > on the rest of us. > > nonprofit - not established to make a profit > > (nonprofit organizations) - > > Cambridge Dictionary of American English > > (http://www.cup.cam.ac.uk/elt/dictionary/) > > By this definition, UL is a nonprofit organization. > > I assume that your > > friends (and the Post) consider profit to mean > > "money that a business earns > > above what it costs to produce and sell goods and > > services". Given the > > general usage of the prefix "non", and that UL's > > earnings are higher than > > it's costs - perhaps they feel that "not-for-profit" > > more clearly describes > > the company. > > > A more general question is, why is does UL > > continue to > > > enjoy special consideration when what they are > > doing > > > is not unique? > > > > > > Regards, > > > > > > Frank West > > > Sr. Engineer > > > TUV Rheinland NA > > Is it necessary to do something unique to enjoy > > "special consideration"? > > When you say "special consideration", I assume you > > are referring to UL's > > tax-exempt status. > > Do you object to UL's tax-exempt status, or covet > > it? > > > > Regards, > > Matt > > > > > > > > > > > --- Barry Ma <[email protected]> wrote: > > > > > > > > Chaz, Why do they call UL a non-profit > > organization? > > > > Barry > > > > Anritsu Co. > > > > -------------------- > > > > From: "Grasso, Charles (Chaz)" > > > > <[email protected]>, on 11/24/99 > > 1:23 > > > > PM: > > > > > > > > Forgive a jaded old man but two things jumped > > out at > > > > me when I read the article. > > > > > > > > 1. "In many other countries, standards are set > > or > > > > approved by a government entity with industry > > > > involvement. U.S. safety standards, on the other > > > > hand, are set primarily by private industry - > > either > > > > in independent labs such as UL or by industry > > > > associations or organizations. The CPSC, an > > > > independent regulatory agency charged with > > > > protecting consumers from hazardous products, > > > > imposes federal regulations only when it > > believes > > > > industry's voluntary efforts are insufficient. " > > > > > > > > Oh Boy. Lets see look like UL is ripe for a > > > > government takeover to me!! > > > > > > > > 2. Many experts interviewed contend that UL's > > recent > > > > problems can be traced to the way the company is > > > > organized and funded - with more than > > nine-tenths of > > > > its revenue coming from companies for testing > > > > products. UL also sets industry safety standards > > - > > > > which it then measures products against - but > > does > > > > not > > > > charge for that. Lets see - if we reorganize and > > - > > > > more importantly - change the funding (a > > euphemism > > > > for taxation) then we'll all be safer!! > > > > > > > > Sorry - Just could not resist.. > > > > > > > > > > > > > > > > > > ______________________________________________________________ > > > > Open your mind. Close your wallet. > > > > Free Internet Access from AltaVista. > > > > http://www.altavista.com > > > > > > > > > > > > --------- > > > > This message is coming from the emc-pstc > > discussion > > > > list. > > > > To cancel your subscription, send mail to > > > > [email protected] > > > > with the single line: "unsubscribe emc-pstc" > > > > (without the > > > > quotes). For help, send mail to > > [email protected], > > > > [email protected], [email protected], or > > > > [email protected] (the list > > > > administrators). > > > > > > > > > > > > > > > > > > > > > ===== > > > Frank West > > > Senior Engineer > > > TUV Rheinland of North America > > > NW/Portland OR Office > > > __________________________________________________ > > > Do You Yahoo!? > > > Thousands of Stores. Millions of Products. All > > in one place. > > > Yahoo! Shopping: http://shopping.yahoo.com > > > > > > --------- > > > This message is coming from the emc-pstc > > discussion list. > > > To cancel your subscription, send mail to > > [email protected] > > > with the single line: "unsubscribe emc-pstc" > > (without the > > > quotes). For help, send mail to > > [email protected], > > > [email protected], [email protected], or > > > [email protected] (the list > > administrators). > > > > > > > > > > > > > > > --------- > > This message is coming from the emc-pstc discussion > > list. > > To cancel your subscription, send mail to > > [email protected] > > with the single line: "unsubscribe emc-pstc" > > (without the > > quotes). For help, send mail to [email protected], > > [email protected], [email protected], or > > [email protected] (the list > > administrators). > > > > > > > > > ===== > Frank West > Senior Engineer > TUV Rheinland of North America > NW/Portland OR Office > __________________________________________________ > Do You Yahoo!? > Thousands of Stores. Millions of Products. All in one place. > Yahoo! Shopping: http://shopping.yahoo.com > --------- This message is coming from the emc-pstc discussion list. To cancel your subscription, send mail to [email protected] with the single line: "unsubscribe emc-pstc" (without the quotes). For help, send mail to [email protected], [email protected], [email protected], or [email protected] (the list administrators).
