What is a non-profit organization?
A non-profit organization is one that, by law, is unable to hold or distribute profits like a "for-profit" organization can. This means that the non-profit company is required by law to redistribute any "profits" back into the company (in the form of salaries, new capital, etc), or to other non-profits or to charity. This also means that non-profit companies do not have the ability to issue or sell stock/shares and, therefore, cannot pay dividends on any earnings.
Furthermore, non-profit companies may be required to have an unpaid (volunteer) board of directors with a larger number of directors than a business corporation.
Although some non-profits may run very similar to some
for-profit companies, the laws restricting the two are very
Non-Profit Organizations are mainly those which is set up for philanthropic purposes. Social Organizations that collects money and utilize for some social work, is one example, but there are thousands of others.
It should also be noted that a non-profit organization is not necessarily "tax-exempt" and may have to pay income taxes and collect sales taxes on its products and services.
Note that a Non Profit Organization should not be confused with a Non Governmental Organization.
If you get a paying job with a nonprofit organization, you may have to work a certain number of hours to be eligible for some of the employee benefits they offer. This is true when you work for any organization, profit or nonprofit. If you are a volunteer, you may ask the nonprofit for certain hours, so you can work around the schedule demands of the rest of your life.
How is the job of a financial manager in a nonprofit organization different from that of a financial manager with a profitseeking firm?
How is the job of a financial manager in a nonprofit organization different from that of a financial manager with a profitseeking firm Read more: http://wiki.answers.com/Q/How_is_the_job_of_a_financial_manager_in_a_nonprofit_organization_different_from_that_of_a_financial_manager_with_a_profitseeking_firm#ixzz312sqXJKJ
Is the job of a financial manager in a nonprofit organization different from a financial manager with a profit-seeking firm?
Non profit organizations do not pay dividends to shareholders. It can have any type of purpose. Charities are generally non profit organizations that have the purpose of helping human beings in one way or the other. A charity can run a hospital, a soup kitchen, a homeless shelter, etc. A nonprofit can maintain an old lighthouse, an old battlefield, or a museum, etc. Thus while almost all charities are nonprofit organizations not all nonprofit organizations…
What website allows you to evaluate whether a non-profit organization uses funds it receives wisely?
A nonprofit organization does not have owners or shareholders so it does not retain profits from one period to the next, other than to smooth out funding for organizational programs. Therefore, all money raised is spent on salaries, the work of the non-profit, and in saving for future programs. Non-profits do not pay dividends.
NGO -- Non-Governmental Organization - nonprofit organizations that look to resolve concerns that affect the world. An example - UNESCO is an NGO. IGO -- International Government Organization - nonprofit organizations that look to resolve concerns that affect the world. An example - The United Nations is an IGO. These organizations can include governments.