A non-profit organization is legal and operates for social benefit, unlike an entity that operates as a business to generate a profit. There are many non-profit organizations and they generally seek approval from the government.
Non-Profit Organizations
Non-profit organizations can inlcude political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. The reason why they seek approval from the government is to be tax-exempt. There are, however, some who may even qualify to receive tax-deductible contributions.
Key Aspects
One of the key aspects for a non-profit organizer is accountability. They are accountable to donors, funders, volunteers, and to their communities.
A non-profit organization is responsible to raise the necessary money needed. This is where the donations and public confidence is a factor in the amount of money that a non-profit organization can raise.
If they are well trained to focus and operate fairly and ethically, the public will have confidence in the organization. That will result in more money for the organization through donations. So, the focus is often on activities that build public confidence in an ethical way.
Goals
The Non-profit organization will work on a plan to bring in enough income to pursue the milestones to reach their goal. It is best when they plan to work toward the small milestones to reach the final goal. Together they then can celebrate each milestone and celebrate with the community once the goal is reached.
Responsible Business
Although they still have to operate as a fiscally responsible business, they need to manage the income that is raised and establish sustainability and growth. The money may be raised through services, donations, etc., but they are responsible to focus on being professional and financially responsible with a mission and motive.
Success
The key to their success is to manage the non-profit organization with a mission using opportunities, competence, and commitment.