Commercial Applications
Define a non-profit making organisation.
Commercial Orgs Intro
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Answer
A non-profit making organisation refers to an organisation which does not aim at earning profits. Its purpose is social service and public welfare. Such organisations are formed for the purpose of promoting art, culture, religion, charity, education, health, sports, or any other social purpose.
Main features:
- The motive is to provide service and not to earn profits.
- Funds are raised from members, donations from the public and grants by the government.
- The organisation may charge nominal or reasonable prices for its services in order to raise funds.
- Services are provided to members and even to society at large.
- These organisations may be registered under the Trusts Act or the Societies Registration Act or may even be unregistered.
- They are managed by Trusts, Executive Committees, etc., whose office-bearers are elected democratically.
Examples include Akshaya Patra Foundation, Teach For India, SEWA (Self-Employed Women's Association), Ramakrishna Mission, Bharat Sevashram Sangha, Missionaries of Charity, Child Rights and You (CRY), and HelpAge India.
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