Non profit organization

basilmarket.com forums : Chat | 5 posts archived

thread starter AdvancedIam Jun 10 2009 + PM | QUOTE | PERMALINK | REPORT

What exactly does this mean? They strictly operate on private donations meaning they dont take money? Can someone clarify this for me?

TopMage 06/10/09 + PM | QUOTE | PERMALINK | REPORT

Well in the end they usually end up getting paid more then normal jobs.

AdvancedIam 06/10/09 + PM | QUOTE | PERMALINK | REPORT

But say their offering something, if their non profit is the something free?

PeacePlease 06/10/09 + PM | QUOTE | PERMALINK | REPORT

An organization in which its shareholders or trustees do not benefit financially. Usually for educational or charitable reasons. Any money gained by the organization must be kept and used to reach their goals, not given to the shareholders or trustees.

MissMabel 06/10/09 + PM | QUOTE | PERMALINK | REPORT

PeacePlease said: "An organization in which its shareholders or trustees do not benefit financially. Usually for educational or charitable reasons. Any money gained by the organization must be kept and used to reach their goals, not given to the shareholders or trustees." This is the best answer, except non-profits do not have shareholders (they are not publicly held and do not offer stock). As PeacePlease, said, non-profits do not pay their trustees like for-profits do. In fact, many trustees are expected to give an annual gift of a certain amount. Basically it's a business like a for-profit, except any profits made are expected to be returned to the business. Also, non-profits enjoy certain tax privileges and they rely heavily on charitable gifts for support (although there is usually earned income from sales, rentals, tuition, or something like that).