Non-profit organization

It is right to say that both for-profit and non-profit organization need to consider their operations for profitability. Additionally indicate the difference in the primary need for the profits in the two company groups. For-profit organizations earn profits to satisfy the investors and business owners while non-profits use the earned benefits to serve the community around them. The point on the balance sheet is unappropriated since balance sheet equalizes the assets and liabilities in an organization. I believe you intend to indicate the income statement. In your essay, there is no elaborate illustration of the differences and similarities between the two organizations. Include a fundamental similarity such as that the two organization types have limited liabilities that means the founders can not be held responsible for organizational debts. On employees indicate that for-profit organizations employ individuals to run company employees while non-profits mainly rely on volunteers.

Hello Tammy

I must commend the clarity with which you illustrate the significant difference between the non-profit organizations and for-profit companies regarding the issue of profits. Also, there is a clear difference regarding what happens when each of the organizations is dissolved. Additionally, a point to clarify the differences between the two groups is on the tax. Both types of organizations pay property and other similar charges. The only fee that shows the difference between the two is the income tax since the government deems that non-profits will use the tax allowance to serve the community. The essay entails more of differences and little if any similarities between the company groups. Figure out more significant aspects that bring out similarities such as having permanent employees and board members who oversee the activities in the organization. The fact that both organization groups have limited liability to customers on their operations is also a fundamental similarity.