This reminds me of The Burning Man Organization.
“Non-profits” in general are very poorly understood and seem to slip under the radar of accountability at the governmental and board levels.
501c3 has the household name, “non-profit.” It is a case study of an extraordinarily well-branded idea and how that shapes perception.
My experience with these types of organizations and their governance puts me in a default defensive default posture. Too many have found out ways to exploit the capabilities.
At least with a regular corporate entity, there is no mistake the company is out to reward its ownership.