Non profit organization is just like the normal organization. You need to adopt all the procedures that you need to do for starting a normal company / organization, as the name clearly explains that these organizations are really not for profit.
Non profit organizations can be started for different good causes to provide good education for free for a particularly community, provide awareness for a particular cause or disease. Non profit organizations are really useful, and it contributes to the society in many ways.
How Non profit organization get their funds?
Basically Non profit organization runs through donations or funding. They will have tie-ups with government bodies and trust that will help the non -profit organizations to function effectively.
Benefits of corporates/ individuals donating to Non – Profit organization?
- Foremost benefit a corporate company/ individuals gets from donating Non profit organization is the Tax exemption
- Company creates goodwill among the public, for example, Google is managed to donate millions of dollars every year for noble causes this gives a great amount of Goodwill for the company among the people its vendors, clients and investors.
- For individuals more than the tax exemption it gives peace of mind as they feel that they diverted their excess money for a noble cause.
Other benefits to Non profit organization
Non profit organizations is the current need for any society or country. Government supports the non profit organizations as well as the private organization supports this kind of organizations, For example: Google is giving their Mail apps for free to Non-profit organization, likewise, you get plenty of discount benefits for Non profit organization. Founder / president must be really honest in taking care the funds and distribute it properly to the reason why that organization has started.