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    Question: How Does A Nonprofit Differ From A Business? Answer: Here Are Some of The Differences Between A Business and A

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    Rehan Saleem
    A business operates for the financial benefit of its owners and pays taxes on any profits, while a nonprofit has a mission to benefit the community and cannot use funds for anything other than its stated mission. Nonprofits can make a profit but must use it for operations or grants to other nonprofits, and if a nonprofit dissolves its remaining assets must go to another nonprofit rather than owners.

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    Question: How Does A Nonprofit Differ From A Business? Answer: Here Are Some of The Differences Between A Business and A

    Uploaded by

    Rehan Saleem
    13 views1 page
    A business operates for the financial benefit of its owners and pays taxes on any profits, while a nonprofit has a mission to benefit the community and cannot use funds for anything other than its stated mission. Nonprofits can make a profit but must use it for operations or grants to other nonprofits, and if a nonprofit dissolves its remaining assets must go to another nonprofit rather than owners.

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    A business operates for the financial benefit of its owners and pays taxes on any profits, while a nonprofit has a mission to benefit the community and cannot use funds for anything other than its stated mission. Nonprofits can make a profit but must use it for operations or grants to other nonprofits, and if a nonprofit dissolves its remaining assets must go to another nonprofit rather than owners.

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views1 page

    Question: How Does A Nonprofit Differ From A Business? Answer: Here Are Some of The Differences Between A Business and A

    Uploaded by

    Rehan Saleem
    A business operates for the financial benefit of its owners and pays taxes on any profits, while a nonprofit has a mission to benefit the community and cannot use funds for anything other than its stated mission. Nonprofits can make a profit but must use it for operations or grants to other nonprofits, and if a nonprofit dissolves its remaining assets must go to another nonprofit rather than owners.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Question: 

    How Does a Nonprofit Differ From a Business?

    Answer: Here are some of the differences between a business and a


    nonprofit:
     When you start a business, it is for the financial benefit of its
    owners and/or shareholders. Profit is the goal and the business pays
    taxes on that profit.
     A nonprofit entity has a mission that benefits the "greater good" of
    the community, society, or the world. It does not pay taxes, but it also
    cannot use its funds for anything other than the mission for which it
    was formed.
     Nonprofit organizations can and do make a profit, but it must be
    used solely for the operation of the organization or, in the case of a
    foundation, granted to other nonprofit organizations.
     When a for-profit organization goes out of business, its assets can
    be liquidated and the proceeds distributed to the owners or the
    shareholders. When a nonprofit goes out of business, its remaining
    assets must be given to another nonprofit.

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