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☆ OpenAI's nonprofit arm showed revenue of $45,000 last year, even though company is worth billions
▼ + stars: | 2023-12-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +6 min

That's from the nonprofit parent's 990 filing with the Internal Revenue Service, a form that has to be filled out by organizations wishing to maintain their tax-exempt status. Thad Calabrese, a professor of public and nonprofit financial management at New York University, said OpenAI's current status is confusing, and is unlike anything he has seen in the nonprofit world. He said OpenAI could give up its nonprofit status, and he cited the Blue Cross Blue Shield Association, which in 1994 allowed associated nonprofit medical insurance plans to switch into for-profit entities. An OpenAI spokesperson didn't respond to a question about whether the organization is considering giving up its nonprofit status. Unlike OpenAI, Mozilla never raised money from venture and corporate investors, who expect returns on their investments.

Persons: Sam Altman, OpenAI's financials, OpenAI, That's, PlainSite, Altman, Helen Toner, Tasha McCauley, Ilya Sutskever, Thad Calabrese, Calabrese, didn't, Mark Surman, Surman, Altman's, hasn't, Bret Taylor Organizations: Internal Revenue Service, CNBC, New York University, Shield Association, Mozilla Foundation, Mozilla Corporation, Mozilla, Microsoft, Duke University Locations: California

A spokesperson for defendant Blue Cross Blue Shield Association declined to comment on pending litigation. A representative from Blue Cross Blue Shield of Michigan also declined to comment. The lawsuit seeks to bar Blue Cross Blue Shield's alleged anticompetitive conduct, and it also seeks triple damages and other remedies. Ford's lawsuit said Blue Cross Blue Shield of Michigan is the country's ninth largest insurer based on its 4.5 million enrollees. The case is Ford Motor Co v. Blue Cross Blue Shield of Michigan Mutual Insurance Company and Blue Cross Blue Shield Association, U.S. District Court for the Eastern District of Michigan, No.

Persons: Ford, Travis Mihelick, Mike Scarcella, Leigh Jones Organizations: Ford Motor, Blue, Association, Ford, Shield Association, Circuit, Appeals, Shield, Michigan, Ford Motor Co, of Michigan Mutual Insurance Company, U.S, Eastern, Eastern District of, Thomson Locations: Detroit, Michigan, Alabama, Atlanta, Eastern District, Eastern District of Michigan

☆ Fact Check-Michigan incentive program for children’s vaccines paid far less than $40,000 to individual providers
▼ + stars: | 2023-03-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

The posts read, “DID YOU KNOW: Blue Cross Blue Shield pays pediatricians a $40,000 bonus for fully vaccinating 100 patients under the age of 2. The full document does describe an incentive program offered to Michigan providers in 2016, and the excerpt seen in the posts about childhood vaccines is on the document’s page 15. “While vaccinations may fall into that category, they would not be the sole performance measure,” said a spokesperson for the Blue Cross Blue Shield Association (BCBSA), which represents the insurer’s affiliates in multiple states. Each of the 34 Blue Cross and Blue Shield companies “sets its own value-based contracts and determines which performance measures would be taken into account for incentives,” she added. A 2016 Michigan program paid individual providers smaller maximum amounts for vaccinating children than claimed online.

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