Did you know that the winning team of the 2011 Superbowl is a nonprofit organization? Yup! According to the Green Bay Packers website: "Green Bay Packers Inc. has been a publicly owned, nonprofit corporation since August 18, 1923. A total of 4,750,937 shares are owned by 112,158 stockholders-none of whom receives any dividend on the initial investment. And, no one person can own more than 200,000 shares.
From what I can figure paging through the history, structuring the Packers as a nonprofit corporation was a tool for the citizens of Green Bay to create a financially viable football team. At least that mission is accomplished. But it does make me wonder what otherwise is so nonprofit about the Green Bay Packers with noted exceptions of the Packers foundation and the nonprofit Women's Association (yup, where the wives and others donate their time).
Any thoughts?
Oh, and Rick Cohen over at the Nonprofit Quarterly offers some other musings about the team, its status and the Tea Party's issues about whether there isn't some kind of socialism (oh so evil) going on with all this. Really, heaven forbid that we should try to equalize the distribution of wealth.