Not-for-Profit Organizations
These are the organizations that are founded not to earn profits but to provide services to their members and to the public in general.such organizations are : schools, hospitals, charitable institutions , welfare societies, clubs, public libraries, resident welfare association, sports club etc.2- The main source of income of these organizations is not the profit earned from purchase and sale of goods and services but is admissions fees, subscriptions, donations, grant-in-aid, etc.The Not-for-Profit Organizations are:-
1-Legally separate organizations
2-Usually exempt from federal, state, and local taxation
3-Religious, community service, private educational and health care, museums, and fraternal and social organizations, among many other kinds of organizations.These are called Not-for-Profit Organizations (NPOs).