FreeRepublic.com LLC (a limited liability corporation),
and
Free Republic (freerepublic.com) is a not-for-profit"
both in the article
:shrug:
On Edit: If Jimmy-got-myself-a-new-moter-home Robinson is telling the Freepers he's non-profit.... hmmm. You'd think even Freepers would know how to Google...
What is an LLC?
Like a corporation, an LLC is a separate and distinct legal entity. This means that an LLC can obtain a tax identification number, open a bank account and do business, all under its own name. The primary advantage of an LLC is that its owners, known as members, are not personally liable for the debts and liabilities of the LLC. For example, if an LLC loses a big lawsuit and is forced into bankruptcy, the members will not be required to make up the difference with their own money. If the assets of the LLC are not enough to cover the debts and liabilities, the creditors cannot look to the members, managers or officers for recovery.
An LLC can be taxed either as a "pass-through" entity, like a partnership or sole proprietorship, or as a regular corporation. By default, an LLC is taxed as a pass-through entity, and the owners of the LLC are not subject to double taxation. This is different from a regular corporation, which pays a corporate tax on its net income (the first tax) and then a second tax when the corporation distributes profits, as the stockholders pay income tax on dividends. With an LLC, the profits "pass through" to the owners, who pay taxes at their individual tax rates.
http://www.legalzoom.com/law_library/LLCs/what.htmlnot-for-profit
We've all heard of non profit organizations, and likely have a general understanding of what the term means, but do feel you have a really good understanding of what a non profit actually is?
Essentially a non profit (sometimes called "not-for-profit") organization is an organization which enjoys tax exempt status as a result of being organized to serve the public interest. Generally the non-profit's primary purpose is to support an issue of public concern for non-commercial purposes. These usually fall into broad classifications of the arts, charities, religion, research, education or even politics.
As their name implies, non-profits are not trying to turn a profit on their activities. However, like all organizations they do have to generate revenues to fund their operations. The primary sources of funds for non profits are donations from either public or private donors, with the inducement for private donors being that donations to the non profit are likely tax deductible. By law, a nonprofit is required to utilize all revenues available after normal operating expenses to serve the public interest.
http://www.about-business.org/Non-Profit-Organization.php