Actually, that is your net revenue number. You have gross revenue of $172k, minus a cost that isn't really part of your operations (Apple's cut), leaving you with net revenue.
Costs of goods sold (COGS) (or cost of services) is deducted from revenue to give you a gross profit number, from which are deducted sales, general, and administrative expenses (SG&A) are deducted to get you to gross income, and then taxes are deducted to get you to net income.
I often draft net revenue provisions in contracts when someone is getting a percentage commission from the gross but things like returns, credits, other commissions, etc. should in fairness be deducted from that number.
Not all companies use gross and net revenue -- it really depends on the size of the component that goes away. Apple, for example, should not report $172k of revenue but rather their $72k cut as their net revenue -- since they never have a right to that other money, it could/would be misleading for them to report it as part of their operations.
That's your hard work, not theirs. Congratulations.
Without digging into the specifics of the matter,if the Foundation is indeed a 501(c)(3), the IRS should/will almost certainly have required it to have three independent board members.
In addition, having counseled clients on this structure, the benefit of creating a nonprofit and giving it IP is that it creates a public check on anything to do with that IP. For example, while a startup's founders can sell the company, they can't unilaterally agree to sell off the IP in the nonprofit, and the public can challenge any such sales by recourse to a state attorney general's office.
It's not perfect, but it helps protect the IP in the way founders want to. In many ways, it's a one-way decision, which is why it works.
OT: "grocer's apostrophe" -- never heard someone use that phrase, and I really like it. I see that all the time, and it makes my skin itch. I will be borrowing it frequently.
Costs of goods sold (COGS) (or cost of services) is deducted from revenue to give you a gross profit number, from which are deducted sales, general, and administrative expenses (SG&A) are deducted to get you to gross income, and then taxes are deducted to get you to net income.
I often draft net revenue provisions in contracts when someone is getting a percentage commission from the gross but things like returns, credits, other commissions, etc. should in fairness be deducted from that number.
Not all companies use gross and net revenue -- it really depends on the size of the component that goes away. Apple, for example, should not report $172k of revenue but rather their $72k cut as their net revenue -- since they never have a right to that other money, it could/would be misleading for them to report it as part of their operations.
That's your hard work, not theirs. Congratulations.