Tuesday, June 16, 2015
Where Do Non-Profits End And For-Profits Begin?
The Indiana Economic Development Corporation announced today it was awarding up to $1.2 million in conditional tax credits and more than $100,000 in job training grants to two IT start-up companies in Carmel launched by tech entrepreneur Scott Jones. The companies are called Eleven Fifty Academy and Eleven Fifty Consulting. Reading further into the press release, I realized that Eleven Fifty Academy is actually a non-profit educational organization focused on providing low-cost computer coding and professional training for future IT workers. Eleven Fifty Consulting is a for-profit company that provides website and mobile app coding services to businesses. Presumably, the tax credits are being awarded to Eleven Fifty Consulting since its non-profit counterpart pays no taxes. The IEDCs press release, however, speaks of the two entities as if they're interchangeable, further blurring the lines between the worlds of non-profit and for-profit companies.