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Fri, 2 Feb 2001 10:32:06 EST |
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Hello,
Quick note re: nonprofit v. for-profit
A for profit institution is one who's purpose is to enure monies for the
benefit of those associated. It could be the owner, or stock holders, etc.
Profit may not be their only goal, but is a goal nonetheless.
A nonprofit is really a not-for-profit. Their goal is to provide service
without profiting monetarily from it. However, their income should exceed
expenses--they are still a business and must be manages in a business like
manner. Of courser, a non profit doesn't always operate in the black (ours
only does it through God's grace).
Collin Keel
Executive Director
Log House Museum
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