The difference between For Profit and Nonprofit Organizations , Clearly Explained.

Dr. Kenneth Acha, MD Dr. Kenneth Acha, MD
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 Published On Feb 01, 2016

http://www.kennethMD.com/ What is the difference between for-profit and nonprofit organizations? Below, I give you nine differences between a for-profit organization and a nonprofit organization. Creation: Nonprofits pay lower fees while for-profits pay higher creation fees. Goal: The goal of the Nonprofits is the greater good while for-profits’ goal is to make profit for the owners or shareholders. Business Activity: Both are businesses Profit Making: Both make profits Profit Distribution: Nonprofits don’t distribute profits while for-profits distribute profits to its owners or shareholders. Shares / Share Holder: Nonprofits don’t have or sell shares. For-profit organizations may have and sell shares. Ownership: Nonprofits are owned by the public while for-profit organizations are privately owned. Taxes: Nonprofits don’t pay taxes while for-profit organizations pay taxes. Dissolution: Nonprofits can’t sell property upon dissolution and must give it to a similar charity when it closes while for-profit organizations can sell their property and the profits go to the owners or shareholders. Those are the nine differences between for-profit and nonprofit organizations that I could come up with. Do you know any differences between for-profit and nonprofit organizations that I have forgotten? Please share below in the comment area.
Tags : Profit and nonprofit organizations, Profit and nonprofit organizations, Difference between for-profit and nonprofit companies, Profit and nonprofit organizations, Difference between for-profit and nonprofit companies, nonprofit vs for-profits orgs

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