most indies are non-profits, albeit sans official status... ;)
...or even negative-profit!
I understand this reality, but isn't it also true that some 'indies' might use this reality in order not to pay their artists? ESP Disk is one of the famous examples of an adventurous label that went bankrupt, but re-surfaced four times after it's demise in 1974. Without ever paying anything to the recorded artists.
In the sixties, they got their first chance to record, and ESP functioned well in some cool hippie way. There was absolutely no problem, no one ever got rich here, and some great music was put out anyway. But from the seventies on, the label vanished, but it was still 'ESP' who owned the tapes. And then the re-issues appeared. And re-appeared, and got re-mastered. While saxophonist/ ex-recording artist Sonny Simmons lived on the streets. Remco ps Simmons is currently doing better as far as I know, be it under humble financial conditions.