Flashcards in 1.2e Non-Profit Organisations Deck (10):
Non-profit organisations definition
Organisations that do not have an aim of making profit for the owner
What do non-profit organisations do with profit?
- Reinvest it back into the business
- Put it towards reaching its objectives
Are charities a separate legal status?
Requirements for a charity
- Must have exclusively charitable aims
- Approved by charities commission
- Trustees are not allowed to receive financial benefits from the charity
Social enterprise definition
Business who's profits are reinvested into the business or with other stakeholders
Features of social enterprise
- Underprivileged/less able employees
- Environmentally friendly materials
- Profit to help stakeholders
- Provides service to local community
Pressure group definition
Organisation formed by a group of like-minded people who wish to exert their feelings.
What are mutual societies also known as?
Industrial societies or provident societies
Who are mutual societies owned by?