write a paragraph about your thoughts on not-for-profit organizations. In particular, you need to get the...

write a paragraph about your thoughts on not-for-profit organizations. In particular, you need to get the points on why not-for-profit organizations exist, what different kinds there are, and their role society are.

Expert Solution

The organizations which are for charities or other types of public service organisations are the not for profit organizations. These organizations do not earn profits for its owners. The money earned or donated to these not for profit organisations are used to keep it running and to pursue its goals. These organizations can also apply for the tax exempt status. All the donations to them come under tax exempt category.

If all the companies aim for the profits only and see only for their own benefits then the society and its needs will take a back seat. In such a situation the not for profit organizations come to the rescue. These institutions take into consideration the society and its needs. Profits or making money is not at all their motive instead to take care of the society and keep their benefits and needs on priority is their motive. The government is not in a position to reach to all the sectors of the country so they support these not for profit organizations, because they take up their duty of society upliftment and support the government in achieving their goals. Therefore, they are granted the tax exempt status. The kinds of not for profit organisations are ....501(c)(4), 501(c)(5), 501(c)(6), 501(c)(7). All are for different sectors and motives like the agriculture, civic league, real estate, business league, etc.

Rahul Sunny answered 1 year ago

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