Reply #3: One small correction

[NorthCarolina]

Underwriters Laboratories Inc. is not a "Non-Profit" organization, but rather they are more correctly a "Not For Profit" organization in that their books do not have to show zero balance at the end of the tax year as is the case for non-profits. Essentially what that means is that a Not For Profit organization can actually have positive balance sheets (profits). Granted UL is, and has been, in a very tenuous tax position and they have long been aware that their operations could be reassessed at any time. I worked at UL as a product safety engineer for over 28 years and had to make this correction concerning their real tax status many many times during my tenure.