The NFL a NonProfit?

While listening to Mike & Mike in the Morning on ESPN2 today, I heard a guest refer to the NFL not as a corporation, but as a giant nonprofit. A quick Guidestar search brought up a thousand returns for "NFL," many of which were players' associations, youth programs, and such. Didn't have time yet to see if the the big money accounts fall under 501(c)3. If they do, I'm amazed. Really, can you imagine the power wielded by that organization if they have that status? For a multi-billion dollar conglomerate? The loopholes? The requirements? The complexities?

More on this later. I find it intriguing. What about the other major sports? International?

I could be wrong, or could have misunderstood the guest, but still...