Not quite.  AMSAT is a 501(c)3 corporation, which under the Internal Revenue Code requires its resources to be used for the educational and scientific purposes stated in its constitution and bylaws, rather than for the financial benefit of its members.  In that sense, the members don't really "own" it, even though they control it through their voting power.  I'll leave any further discussion to the lawyers.

73 Ray W2RS

-----Original Message-----
From: Jerry Buxton <n0jy@amsat.org>
To: amsat-bb@amsat.org
Sent: Wed, Jan 27, 2021 7:08 pm
Subject: [AMSAT-BB] Re: SiriusXM's new SXM-7 satellite suffers major payload failure, feared total loss. Insured for $225M.

On 1/27/2021 19:02, Bruce Perens via AMSAT-BB wrote:
>
> So, what about AMSAT? It's a non-profit and the members own it,

I'm just stuck on the fact that I own the NRA too, then.  Pretty cool
feeling!

Jerry Buxton, NØJY