True, non-profits don't pay taxes on any revenue regardless of expense.
How do you know they had no profit with all of the deals with major companies and having one of the most popular software services in existence? Non-profits can earn profit, they just don't have to pay taxes on those profits and they can't distribute those profits to stakeholders -- it goes back to the business.
They are also a private company, and do not have to report revenue, expenses, or profits.
So yeah, I stand by what I said -- it sounds like fraud. And it deserves an audit.
To be fair, this is a year and a half out of date (finances ending Dec 2022). The first chatGPT had only just come out at that point. 2023 fiscal report is due by Nov 15, and we won't know until next Nov about 2024. So yeah, an audit is in order, to bring the records up to date before the switch, if nothing else.
How do you know they had no profit with all of the deals with major companies and having one of the most popular software services in existence? Non-profits can earn profit, they just don't have to pay taxes on those profits and they can't distribute those profits to stakeholders -- it goes back to the business.
They are also a private company, and do not have to report revenue, expenses, or profits.
So yeah, I stand by what I said -- it sounds like fraud. And it deserves an audit.