Not true, you just need to not lose money, all you need to do is stay in the black, stay out of the red. Not for profit corporations do a lot of good and don't make a profit. People get to keep their jobs, no bankruptcy just keep doing good works. Keep current on the debt and keep paying the wages and bills and all is good including a contribution to GDP.
That said, a business model that depends on continuing and increasing debt is not a business it is a Ponzi scheme.
TEK