This guide provides information related to the differences among various business types, how to start a Nonprofit organization, the functions of a Nonprofit, and resources in the Nonprofit sector. The number of Nonprofit businesses are not restricted to the few examples resourced in this guide. While there is access to steps in the process of starting a business, this guide is not a walk-through.
Whether you're working on a project for a class, trying to start your own Nonprofit, needing resources for UK300, or simply wanting to learn more, this guide offers some helpful beginnings.
Here are a few resources for developing an understanding of Nonprofits and what it would mean to start one.
Nonprofit: an organization operated for the public benefit hat has been designated by the IRS as exempt from certain forms of taxation, It belongs to the social sector or third sector, because it is not part of government (public sector) or business (private sector). The term is generally interchangeable with non-profit and not-for-profit, despite sector debate about the nuances of the terms. Organizations that operate internationally are sometimes referred to as non-governmental agencies.
Social Enterprise: a venture whose ultimate purpose is social good and advancement and supports its social mission through a revenue generating mechanism guided by entrepreneurial principles. Typically recognized for merging the nonprofit and commercial business techniques for generating revenue.
Philanthropy: the act of voluntary donation in support of a social change, cause, or common good.
501(c)(3): a status of tax exemption given to private foundations and public charities in the nonprofit sector.