Help a Dorklehead understand

[BNA/LION]

Originally Posted by TheVTCGuy

I have heard several times on here, that Rolex, the company, is a NOT FOR PROFIT organization. Now, My financial knowledge is slightly better then a horned frog, I can barely balance my checking account, but a couple things I DO know is without being a public company, Rolex does not have to report to stock holders. I also know that Rolex HAS to make a profit… I mean to pay it’s workers and pay for supplies and bills…. And… stuff.

So…exactly what does Rolex gain by being a “Not for Profit” Organization, what does it really mean?

Actually... for a Dorkelhead who looks like a Horned Frog and has zero math skills, that's a pretty good question!

[Jocke]

Sorry Paul, no one can help you when you not understand.

[TheVTCGuy]

Originally Posted by Jocke

Sorry Paul, no one can help you when you not understand.

I don’t get it?

[fskywalker]

Originally Posted by padi56

Rolex is a foundation and cannot be owned, bought or sold to anyone for any price. The company is set up in such a way that it continuously perpetuates its existence through properly allocated funds into research and development but they do still make a large profit just like any other business to survive.

Hans Wilsdorf, the founder of Rolex, was orphaned at age 12,he spent the rest of his teenager years in an orphanage. He later began to work for a watch exporter in Switzerland, then went on to found RWC now just Rolex as we know it today.

Hans Wilsdorf and his wife owned orphanages in Switzerland and donated profits of the company to various charities and orphanages. To this day a large share of the profits go to charities and the Rolex Awards for Enterprise but they still make a large profit .

Thanks for the info Peter!


Sent from my iPhone using Tapatalk Pro

[77T]

Originally Posted by rlx123

I have not heard of any specific charity that Rolex is supporting.


Sent from my iPhone using Tapatalk

Here ya go - it’ll take a few hours. Remember, Rolex funds non-profits for the greater good - not necessarily a single charity.
Not all non-profits are charities.

https://www.rolex.org




Sent from my iPhone using Tapatalk Pro

[Michael1968]

Originally Posted by Wcdhtwn

Paying workers, supplies and bills, are factored in before it’s “profitable”. Also known as business expenses…

This is very good point. This is first topic on every business course. Why nobody remember this.

[Devildog]

Originally Posted by TheVTCGuy

I have heard several times on here, that Rolex, the company, is a NOT FOR PROFIT organization. Now, My financial knowledge is slightly better then a horned frog, I can barely balance my checking account, but a couple things I DO know is without being a public company, Rolex does not have to report to stock holders. I also know that Rolex HAS to make a profit… I mean to pay it’s workers and pay for supplies and bills…. And… stuff.

So…exactly what does Rolex gain by being a “Not for Profit” Organization, what does it really mean?

Here are your correct answers Paul

And remember, the Foundation and Rolex SA are both subject to Swiss law, taxation and accounting standards. Which are quite different to those of, for example, the USA and the UK Before you even consider the legal differences of a Swiss foundation to even a Swiss private limited company (SA)

But fundamentally, Rolex SA is NOT a "not for profit" organisation. Its a Swiss registered limited company which is owned by a foundation. Rolex SA makes a profit, as do the various Rolex distribution companies such as Rolex USA Inc that are owned by Rolex SA.

Originally Posted by padi56

Rolex is a foundation and cannot be owned, bought or sold to anyone for any price. The company is set up in such a way that it continuously perpetuates its existence through properly allocated funds into research and development but they do still make a large profit just like any other business to survive.

Hans Wilsdorf, the founder of Rolex, was orphaned at age 12,he spent the rest of his teenager years in an orphanage. He later began to work for a watch exporter in Switzerland, then went on to found RWC now just Rolex as we know it today.

Hans Wilsdorf and his wife owned orphanages in Switzerland and donated profits of the company to various charities and orphanages. To this day a large share of the profits go to charities and the Rolex Awards for Enterprise but they still make a large profit .

Originally Posted by Tricolore66

It’s a foundation, not a non-profit. The function of a foundation is be able to exist in perpetuity. There’s a lot of profit involved in making that happen.