All three of the primary characteristics of a profit driven operation exists in the non-profit world. The difference is the order, unlike a profit driven operation of which the primary goal is to generate a profit, the non-profit’s goal is to serve society. Non-profits value the personnel that perform this service to a higher level than profit driven operations and their tierciery goal is to generate enough funds to continue in operations.
A public charity is another term for the coveted Internal Revenue Code Section 501(c)3 status. This designation allows all donations made to the charity to be tax deductible for taxpayers. To obtain this designation, the […]