2. Definition:
Non-profit organization are established
to provide aid to society. They are
entrenched to develop charity,
commerce, religion, or any other fruitful
objects. Their main objective is to
provide services without the intention
of earning profits in return, like trading
organizations.
3. Features of Non-profit
organization
1)Its main element is to serve
society.
2)No surplus gets distributed
among its members.
3)Major funding is done by
donation and contribution in the
non-profit organization.
4. 4)The non-profit organization also
considered a separate legal entity.
5)The elected members of the
organization handle the
administration.
6)Numerous non-profit
organizations are dependent on the
active assistance of the volunteers.
5. Comparision:
1)A profit organisation, as its name
suggests, works for profit maximisation of
the concern. As against this, a non-profit
organisation works for providing service, for
the well-being of the society.
2) A profit organisation can be a sole
proprietorship, partnership or a body corporate,
i.e. company whereas a non-profit organisation is
an association of person, which can be a club,
trust, public hospitals, cooperative society, etc.
6. 4)The major source of income, for a
profit organisation, is from the sale
of goods and services. Conversely,
the non-profit organisation, derive
a considerable part of their income
from donation, subscription,
membership fee, charity and so on.
7. Challenges for Nonprofit Organizations
1.Limited Government Funding.
Many nonprofit organizations
depend on the assistance of the
government. ...
2.Stable Income and Accurate
Budgeting. ...
3.Pressure to Show Results. ...
4.Not Running It Like a Business. ...
8. 5.Attracting and Retaining the
Right Talent. ...
6.Increase in Need for Services.
7.Working Itself Out of a Job. ...
8.Eye on the Bottom Line.
9. Mission:
Nonprofit mission statement is the
core that defines the purpose of
your organization.
mission is a cohesive statement
that describes what you do and
why you exist.
10. Vision:
A vision statement explains the
overall goal of your organization
looking into the future, while
the mission statement outlines
the present plan to realize the
vision
11. Goals:
An organization that exists to
achieve some goals other than
usual buiness goal of profit ,market
share or return on investment.
To increase the awareness and
interest in the training also.