Corporate non-profits cheating the system--how??
April 22, 2012 6:33 PM Subscribe
There are companies that enjoy tax exemption as a 501c3 and yet actually make quite a substantial profit and operate chiefly according to a business/profit-making model. They don't seem to meet some of the key criteria of a non-profit. How do they do this and are there cases in which non-profits end up being forced to drop their non-profit status?
If so, does this usually happen because of challenges from legislators, IRS, community members or who?
If it helps, I'm thinking of UPMC (University of Pittsburgh Medical Center) which pulled 750million in profit last year and is involved in a public battle against Highmark BCBS over who enjoys the title of regional insurance monopolist. (Apparently they value profit over their professed healthcare mission.)
Thanks for any information!