A nonprofit organization serves public or mutual benefits and interests. Being a nonprofit does not mean that the organization does not generate profit, but simply that it doesn’t generate revenue for the purpose of harvesting income.
What Is a Nonprofit Organization?
Nonprofit organizations allow people to come together and join resources in order to achieve goals that benefit the purpose for the organization’s being. In so doing, the revenue generated by the nonprofit organization is used for the betterment of the mission they seek to complete.
Nonprofit organizations are typically organized in order to respond to social problems faced within communities, as well as focus on other needs that must be attended to. This is then acted upon through the implementation of programs under the organization, run by people who volunteer for the cause.
In volunteering for the cause, many objectives for the success of the cause are put into place.