Stories
Slash Boxes
Comments

SoylentNews is people

posted by martyb on Friday November 15 2019, @04:38AM   Printer-friendly
from the what-to-do-now? dept.

Public Interest Registry, the non-profit organization managing the .ORG Top Level Domain (TLD) has been sold to investment firm Ethos Capital.

PIR was established by the Internet Society in 2002 to manage and operate the .ORG domain. Since then, .ORG has risen to become the largest purpose-driven domain used by millions of organizations and others to achieve their online goals.

[...]“This is an important and exciting development for both the Internet Society and Public Interest Registry,” said Andrew Sullivan, President and Chief Executive Officer of the Internet Society, the organization that established Public Interest Registry. “This transaction will provide the Internet Society with an endowment of sustainable funding and the resources to advance our mission on a broader scale as we continue our work to make the Internet more open, accessible and secure – for everyone.

Obviously this comes as a complete and utter surprise to everybody, a couple of months after ICANN eliminated the .org price cap despite overwhelming opposition.

All of PIR’s domain operations and educational initiatives will continue, and there will be no disruption of service or support to the .ORG Community or other generic top-level domains operated by the organization.

It looks like all parties involved wisely decided not to comment on any expected price increases though.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 3, Disagree) by bradley13 on Friday November 15 2019, @05:17AM (8 children)

    by bradley13 (3053) Subscriber Badge on Friday November 15 2019, @05:17AM (#920613) Homepage Journal

    Pretty much by deginition: a non-profit should be nearly worthless, since they cannot ever make money.

    Yeah, naive. A lot if non-profits exist to enrich their top management, to launder money, or for other unfortunate reasons. Which is it in this case?

    --
    Everyone is somebody else's weirdo.
    Starting Score:    1  point
    Moderation   +1  
       Informative=1, Disagree=2, Total=3
    Extra 'Disagree' Modifier   0  
    Karma-Bonus Modifier   +1  

    Total Score:   3  
  • (Score: 2) by Rosco P. Coltrane on Friday November 15 2019, @05:47AM

    by Rosco P. Coltrane (4757) on Friday November 15 2019, @05:47AM (#920616)

    Well, at least if they want to register PIR.COM, it seems to be available for a measly $75k.

  • (Score: 4, Informative) by Anonymous Coward on Friday November 15 2019, @08:54AM (2 children)

    by Anonymous Coward on Friday November 15 2019, @08:54AM (#920638)

    Pretty much by deginition: a non-profit should be nearly worthless, since they cannot ever make money.

    This is simply not true. The main difference between a non-profit and a for-profit organization is how surplus assets are distributed, not whether or how much money they make.

    For example, a for-profit might disburse a surplus to shareholders as dividends, but a non-profit cannot do this.

    • (Score: 1) by webnut77 on Friday November 15 2019, @06:02PM (1 child)

      by webnut77 (5994) on Friday November 15 2019, @06:02PM (#920735)

      For example, a for-profit might disburse a surplus to shareholders as dividends, but a non-profit cannot do this.

      Towards the end of a non-profit's fiscal year, if they have a surplus, they can just give the CEO and members of the Board a bonus.

      Bingo! No profit.

      • (Score: 0) by Anonymous Coward on Friday November 15 2019, @09:59PM

        by Anonymous Coward on Friday November 15 2019, @09:59PM (#920818)

        Disbursements that personally enrich the executive staff or BoD that are contingent on revenue or profit are one of the few things non-profits cannot do. In addition, PIR is a registered support organization of unclassified type, which limits their use of the money even more than the standard non-profit rules to:

        A supporting organization must engage solely in activities that support or benefit its supported organization(s). In addition to making direct grants to its supported organization(s), a supporting organization generally may make grants or provide services or facilities to:

        • individual members of the charitable class benefited by its supported organization(s),
        • another supporting organization that supports the same supported organization(s) or
        • a state college or university described in Internal Revenue Code section 511(a)(2)(B) (colleges or universities which are government instrumentalities).

        However, any such grants or provision of services or facilities must support or benefit the supported organization(s), not just the direct recipients.

  • (Score: 2) by VLM on Friday November 15 2019, @01:02PM (3 children)

    by VLM (445) Subscriber Badge on Friday November 15 2019, @01:02PM (#920677)

    since they cannot ever make money

    They can have huge revenue, huge budgets, and wield huge power; they just can't pay dividends to public stockholders, so instead of stock option incentives they have to pay higher salaries.

    In theory, in the old days, the only way to raise capital was shareholders (and bondholders, long story) to build yer railroad. Now a days all capex is done by nationalized orgs, the national railroad has the govt pay directly for choo choo engines, for example. Meanwhile the businesses outsource everything "as a service" and gig economy and cloud, so they need no capital and thus need no shareholders... Would not be surprised to see a long term trend of a lot more of the economy made up of non-profits and b-corporations. Not next week, duh, but over the course of this century.

    • (Score: 0) by Anonymous Coward on Friday November 15 2019, @03:27PM (2 children)

      by Anonymous Coward on Friday November 15 2019, @03:27PM (#920698)

      "instead of stock option incentives they have to pay higher salaries."

      I work at a non-profit and my salary is 1/2 of what it was at a for-profit.

      • (Score: 2) by The Mighty Buzzard on Saturday November 16 2019, @12:39AM

        I work for this here for-profit (PBC) corporation and make not a damn thing except having a fun site to argue, troll, and make stupid jokes on. Guess it all just depends on the specific company.

        --
        My rights don't end where your fear begins.
      • (Score: 0) by Anonymous Coward on Saturday November 16 2019, @03:38AM

        by Anonymous Coward on Saturday November 16 2019, @03:38AM (#920877)

        GP meant the execs.