Barred1 wrote:Cycle mag just arrived and has some stuff about the holiday business - saying they're not for profit - is that right because a glance at the last few accounts says:
CTC Cycling Tours & Holidays is a wholly owned subsidiary of CTC and made "Donations to chaitable holding company" of 2015 £75,568; 2014 £68,502; 2013 £83,073
Unless I don't understand which is possible that looks like profit being paid over as donations.
B1
https://en.wikipedia.org/wiki/Nonprofit_organization
I think many persons understanding of the term Non-profit organization is incorrect.
A nonprofit organization (NPO) (also known as a non-business entity[1]) is an organization with the purpose of which is something other than making a profit.[2] A nonprofit organization is often dedicated to furthering a particular social cause or advocating for a particular point of view. In economic terms, a nonprofit organization uses its surplus revenues to further achieve its purpose or mission, rather than distributing its surplus income to the organization's shareholders (or equivalents) as profit or dividends. This is known as the non-distribution constraint.[3] The decision to adopt a nonprofit legal structure is one that will often have taxation implications, particularly where the nonprofit seeks income tax exemption, charitable status and so on.