Can anyone explain NHRA?

[dartman]

Originally Posted by bill dedman

Before this goes any farther,

JULIE: is a "not-for-profit corporation" the same as a "non-profit corporation," or, are the laws governing them different???

Explain that, if you have time, please.


Bill

A non-profit organization (abbreviated "NPO", also "not-for-profit") is a legally constituted organization whose objective is to support or engage



Whereas for-profit corporations exist to earn and distribute taxable business earnings to shareholders, the nonprofit corporation exists solely to provide programs and services that are of public benefit. Often these programs and services are not otherwise provided by local, state, or federal entities. While they are able to earn a profit, more accurately called a surplus, such earnings must be retained by the organization for its future provision of programs and services. Earnings may not benefit individuals or stake-holders[1]. Underlying many effective nonprofit endeavors is a commitment to management. Twenty years ago, management was a dirty word to those involved in nonprofit organizations. It meant business, and non-profits prided themselves on being free of the taint of commercialism and above such sordid considerations as the bottom line. Now most of them have learned that nonprofits need management even more than business does, precisely because they lack the discipline of the bottom line. The nonprofits are, of course still dedicated to "doing good." But they also realize that good intentions are no substitute for organization and leadership, for accountability, performance, and results. Those require management and that, in turn, begins with the organization's mission.