Value Delievered Of Non Profit Organizations
Non profit organizations are the society’s safest net as all the social problems are best dealt under such organizations. These organizations are morally and ethically bound to benefit their societies. The value of the non profit organizations are either controlled by their patrons or by the managing board of directors. Such organizations do not have identifiable profits but they do generate income for their cause. They receive money either from donations or from the sales of goods and services that they provide.
Non profits are either public benefit organizations or mutual benefit organizations. Non profit organizations are common in sectors like Health Care, Education and Research, Social Service, Arts and Religion. e. g. UNICEF and Habitat for Humanity International. 1. Non profit organizations create their brand value being trustworthy. They are pioneers in the development of new services that they provide. 2. Social values are the driving force for the non profit organizations.
Their bottom line is to fulfill their social goals and not make their both ends meet. Non profit managers need to involve in fund raising activities in order to meet the fiscal needs of the organization which involve the running cost and fulfilling the basic needs of Author’s Name 2 its employees. Sources of funding could be grants from foundations, organizations and government. Such organizations can organize charitable programs for fund raising. Non profit organizations are also tax exemption organizations.
Donations given to such organizations are tax deductible. They make provisions for donations made to them to be available under tax exemption. These organizations provide a platform to individuals who want to serve the society at large, plus those who hold some social values and want to realize them. Those who want to help for a cause may attach to or start their own non profit organization.
Financial management for nonprofit organizations. John T. Zietlow, Jo Ann Hankin, Alan G. 20-21