Quote:
Originally Posted by popozao
saba is nonprofit?.... hahaha. i think that's iffy.
the concept is a little confusing.
"Nonprofits generally do not operate to generate profit, a characteristic widely considered to be the defining characteristic of such organizations. However, a nonprofit organization may accept, hold and disburse money and other things of value. It may also legally and ethically trade at a profit. The extent to which it can generate income may be constrained, or the use of those profits may be restricted. Nonprofits therefore are typically funded by donations from the private or public sector, and often have tax exempt status. Private donations may sometimes be tax deductible."
well, i'm straying off topic.
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Nope not confusing there are really two terms and I think the Schools have mixed them up ( I worked for a "Not For Profit" org for 5 years LOL)
NonProfit ( Like churches)
Not For Profit ( Like a community Hospital)
Not for Profit is probably what these schools are, they can make more than operating costs but they can only make a certain amount before giving a cost cut or a refund, they are allowed to put money in a reserve fund, they are allowed to spend it on benifits for employees, they are allowed to pay certain amounts as deemed normal an usual to the CEO and employees for the job they do in compared to the for profit industry within reason.
There are many loop holes in this though.
So yeah I think its a gimic but my school does things I never heard of at other schools like when a student fails a course or even a whole semester they do not pay extra. I didn't know this till I was here, but they paid the first time and the second and GOD help them 3rd time is free tuition for the repeat. I have no idea how far it goes but I hope by 3rd time they pass.
It is interesting.
10-19-2006, 01:32 AM
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