Technically, Ikea is a Swedish multinational conglomerate whose retail locations are partly associated with a Dutch non-profit "Stichting_INGKA_Foundation" founded by Ikea's founder.

Essentially, Ikea is profitable because it utilizes a tax-avoidance strategy involving the use of a non-profit and so your comment is in my opinion basically true and they are "cheating" a bit. A pretty slick cheat, though.

Also, thank you for shining a light on this as I was ignorant of the whole thing.