In a transformative shift that could redefine the structure of college athletics, the University of Kentucky has become the first major program to convert its athletic department into a for-profit ...

For activities that might be questioned, not-for-profits should be prepared to demonstrate why those activities fulfill their exempt purpose, according to New York City-based Daniel Romano, CPA, ...

Many not-for-profit (NFP) organizations are founded with a specific desire to be separate and distinct from for-profit businesses. For many founders, the NFP’s mission matters more than the ...

OpenAI will continue to be governed by a non-profit entity going forward, CEO Sam Altman announced Monday – a move that came after the ChatGPT maker’s restructuring plans faced fierce pushback ...

The ChatGPT-maker created a for-profit limited liability company (LLC), which it will now convert into a public benefit corporation that considers the interests of shareholders as well as OpenAI's ...

But not so fast! Even though AI has become an effective support mechanism for financial decision-making, it is not a decision-maker itself. Ultimately, not-for-profit accounting requires judgment ...

On Monday, ChatGPT-maker OpenAI announced it will remain under the control of its founding nonprofit board, scrapping its controversial plan to split off its commercial operations as a for-profit ...

As college athletics continues to shift toward professionalization, Kentucky’s LLC model may serve as a blueprint for others. The move acknowledges a reality long whispered but now unavoidable ...