[1849] in Commercialization & Privatization of the Internet
Re: ANS Letter to the Internet Community
daemon@ATHENA.MIT.EDU (Richard Mandelbaum)
Fri Jan 3 08:49:20 1992
To: rick@uunet.uu.net (Rick Adams)
Cc: weis@ans.net, com-priv@psi.com
In-Reply-To: Your message of Tue, 31 Dec 91 17:55:05 -0500.
Date: Fri, 03 Jan 92 08:46:58 -0500
From: Richard Mandelbaum <rma@tsar.cc.rochester.edu>
>Lastly, what ANS choses to do with its profits is completely irrevelant to
>the issues, but makes for great rationalization. You're either commercial
>or not. You can't occupy some area in between by claiming to be
>going good things with your profits.
____________________
Endowment income earned by many of your favorite institutions, such as
Harvard,Stanford,U Chicago etc. etc. is in fact profit on investments made
by a non-profit institution. Nevertheless Harvard and Stanford are still
considered non-commmercilas. So actually it does matter what you do with
your profits.
P.S. The IRS does in fact recognize the concept of a for-profit
subsidiary of a non-profit. A lot of the fuss over the UBIT issue would
in fact be resolved if more for-profit subsidiaries were set up.
I don't believe for-profit subsidiaries are a dirty word!
