- Non-profit organizations work for charitable purposes while Not for profit are small groups that are formed for some common interest.
- The profits earned are used in managing the expenses for meeting the goal and no profit is used for any personal gain. They do not have employees but volunteers working for them. Similarly, Not for profit does not aim at making profits, however, whatever revenue is earned is first used to pay off salaries are the remaining money is put back in business. There are no shareholders
- Since non-profit organizations have to justify where they have used the money accounting standards are much stricter. Not for Profit do not have to report revenues to the public and hence have less strict accounting policies
- Non-profit organizations are run by a large group of people in comparison to Not for profit organizations
- Non-profit organizations can form a separate legal entity and are tax-exempt on the other hand not for profit cannot form a separate legal entity and are not tax-exempt
- Charity, fundraising is the ways in which non-profit organizations can increase revenues, however, not for profit increase revenues by sales and profits
Author: iamking
What is Not for Profit Organization?
Not for Profit organizations do not earn profits for its owners. All the earned money is donated to the not for profit organization that pursues the organization’s objectives. These organizations are typically charities or other types of public welfare organizations. They are not exempt from taxation but can apply for tax-exempt status. Donations made to these tax-exempt, not for profit organizations may be tax-deductible for the donor
One thing to note here is that these organizations do not pay sales or property taxes. For example, if a church is established as a, not for profit organization it will not pay property tax. It is accepts clothing as donations and sells it to use the money for the charitable purpose it will not pay property tax even if it’s using the church as a store. However, they have to pay taxes on the payroll of their employees
What is a Non-Profit Organization?
Non Profit organizations are business which is granted tax-exempt status. Also, donations made to these organizations are tax-deductible to the entity that makes it. However, they have to make their operations and financial status open to the public so that the donors know that their contribution has been used effectively. They do not pay any income tax on the money they raise through donations and the money they receive in fundraising. They are also referred to as NPO’s.
participate (v.)
1530s, back-formation from participation, or else from Latin participatus, past participle of participare “to share, share in, participate in; to impart,” from particeps “partaking, sharing,” from parti, past participle of partir “to divide” (from Latin partire, from pars “a part, piece,” from PIE root *pere- (2) “to grant, allot”) + Latin -cip-, weak form of stem of capere “to take” (from PIE root *kap- “to grasp”). Related: Participated; participating.
subscribe (v.)
early 15c., “to sign at the bottom of a document,” from Latin subscribere “write, write underneath, sign one’s name; register,” also figuratively “assent, agree to, approve,” from sub “underneath” (see sub-) + scribere “to write” (from PIE root *skribh- “to cut”). The meaning “give one’s consent” (by subscribing one’s name) first recorded mid-15c.; that of “contribute money to” 1630s; and that of “become a regular buyer of a publication” 1711, all originally literal. Related: Subscribed; subscribing.
Commutative Justice
Commutative justice refers to that which is owed between individuals, such as in conducting business transactions. Commutative justice calls for fundamental fairness in all agreements and exchanges between individuals or private social groups. It is distinguished from other forms of justice, such as contributive justice, which refers to what individuals owe to society for the common good; legal justice, which refers to rights and responsibilities of citizens to obey and respect the rights of all and the laws devised to protect peace and social order; and distributive justice, which refers to what society owes to its individual members, i.e., the just allocation of resources. Restitution in moral theology signifies an act of commutative justice by which exact reparation as far as possible is made for an injury that has been done to another.
DISTRIBUTIVE JUSTICE
The term distributive justice refers to fairness in the way things are distributed, caring more about how it is decided who gets what, rather than what is distributed. In modern society, this is an important principle, as it is generally expected that all goods will be distributed throughout society in some manner. In a society with a limited amount of resources and wealth, the question of fair allocation is often a source of debate and contention. This is called distributive justice. To explore this concept, consider the following distributive justice definition.
Definition of Distributive Justice
Noun
- Justice that is concerned with the distribution or allotment of goods, duties, and privileges in concert with the merits of individuals, and the best interests of society.
Origin
12th century Middle English
70. RACIAL/ETHNIC CODES
Dr. Keith Cheng & Professor Jin Li
knowledge (n.)
early 12c., cnawlece “acknowledgment of a superior, honor, worship;” for first element see know (v.). The second element is obscure, perhaps from Scandinavian and cognate with the -lock “action, process,” found in wedlock.
From late 14c. as “capacity for knowing, understanding; familiarity;” also “fact or condition of knowing, awareness of a fact;” also “news, notice, information; learning; organized body of facts or teachings.” Sense of “sexual intercourse” is from c. 1400. Middle English also had a verb form, knoulechen “acknowledge” (c. 1200), later “find out about; recognize,” and “to have sexual intercourse with” (c. 1300); compare acknowledge.