#1
19th March 2016, 09:57 AM
| |||
| |||
Non Profit Organizations definition
Hello sir, I am Pappu Gandhi. I am from Bhubaneswar. I want you to help me by giving me details about the Non Profit Organizations definition. Can you help me?
|
#2
19th March 2016, 09:58 AM
| |||
| |||
Re: Non Profit Organizations definition
A nonprofit organization is a business entity that is granted tax-exempt status by the Internal Revenue Service. Donations to a nonprofit organization are often tax deductible to the individuals and businesses making the contributions. Nonprofit organizations must disclose a great deal of financial and operating information to the public, so that donors can ensure their contributions are used effectively. A nonprofit organizationis an organization whose purposes are other than making a profit. The nonprofit landscape is highly varied, although many people have come to associate NPOs with charitable organizations. Although charities do comprise an often high profile or visible aspect of the sector, there are many other types of nonprofits. Overall, they tend to be either member-serving or community-serving. Member-serving organizations include mutual societies, cooperatives, trade unions, credit unions, industry associations, sports clubs, retired serviceman's clubs and peak bodies – organizations that benefit a particular group of people i.e. the members of the organization NPOs have a wide diversity of structures and purposes. For legal classification, there are, nevertheless, some elements of importance: Management provisions. Accountability and auditing provisions. Provisory for the amendment of the statutes or articles of incorporation. Provisions for the dissolution of the entity. Tax statuses of corporate and private donors. Tax status of the founders. |
|