Describe and distinguish between “profit,” “not for profit” and “nonprofit” organizations?
February 252010
I am puzzled and this is for class. Can you also give me an example of each and just tell me what the difference is?
For profit is a business that intends to make a profit for the owner.
Non for profit is a charity
non profit is another way of saying not for profit but is sometimes used to describe a for profit that is having losses.
February 25th, 2010 at 1:29 pm
Profit would be corporations who have owners or shareowners who receive profits the company makes (most companies you are familiar with like Coca Cola, Nike, etc. are for-profit.)
Not for profit or non-profit companies filter any money they make back into the organization and no one gets to keep that money. Most charities are like this.
References :
February 25th, 2010 at 2:16 pm
For profit is a business that intends to make a profit for the owner.
Non for profit is a charity
non profit is another way of saying not for profit but is sometimes used to describe a for profit that is having losses.
References :
February 25th, 2010 at 3:01 pm
A non-profit organization is an organization whose primary objective is to support an issue or matter of private interest or public concern for non-commercial purposes, without concern for monetary profit. A non-profit corporation is always organized as a non-stock corporation. (I work for one, no raises.)
A not-for-profit corporation is a corporation created by statute, government or judicial authority that is not intended to provide a profit to the owners or members.
A corporation that is organized to provide profits to its owners or members is a for-profit corporation.
References :