Just a name

I hope you don't miss my voice too much, but I can't articulate this any better than the Central Penn Business Journal can (don't even ask how I came across them)...

Nonprofit name game
By Christina Olenchek
3/28/2008 - 8:51:24 AM

The nonprofit sector is looking for a new name for itself.

When you consider the literal meaning of what it means to be a nonprofit – to not make profits – it doesn’t accurately describe human-service groups, charities, cultural organizations and the like, said Michael Sand of Sand Associates, a Harrisburg-based firm that provides consulting services to nonprofits.

There are no restrictions on nonprofits making profits, but these groups must plough the money back into their organizations instead of paying it out to shareholders, Sand said.

“It’s just an inappropriate term,” he said. “Clearly, nonprofits can make profits.”

Sand said most nonprofit executives recognize that the term “nonprofit” is a misnomer, but they can’t come up with a better name. Suggestions such as “community-based organizations” accurately describe some groups, but not others.

Do you have any ideas? It’s not everyday that you get the chance to rename an entire sector of the economy.

What does everyone think?
Are we in need of a new name?
What should it be?!