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Book/movie review
22/08/2022
The job is just to read each individual peer post that I put there and respond to them with a response of 3-4 sentences long.
PEER #1
Nonprofit sector is the sector of organizations that fall under a certain class and are only able to do those things allowed by that said sector. The nonprofit sector being a large diverse and complex sector that includes organizations that are very different from each other in the services they provide (South University Online, para 1). Of the three sectors of, the non-profit sector has a little more flexibility the government or the private sector. According to Renz (2016),educational, charitable, and religious organizations are thousands of years old and were founded in colonial times, with the concept of “nonprofit organizations†as a unified and coherent “sector†that dates back only to the 1970s.
The term non-profit has a variety of meanings itself and has been classified with certain numbers as it relates to the various types of organizations. Non- profits are set up to benefit the public. Their main purpose is not to generate funds or earn profit but to help the public with purposes recognized under the Federal and State laws (South University Online, para 3). They do earn profits through grants, donations contracts borrowed funds and monies earned from products and services they provide and gets recycled back in the program and services (South University Online, para 3). Organizations such as these receive tax exemption status to promote social welfare in which communities and those within benefit.
Nonprofits face the same challenges as private and government sectors such as risk management, program evaluation and planning, and financial management (South University Online, para 6). The difference between the sectors is that, a nonprofit is an organization that is not prohibited by law from earning a profit which is, an excess of gross earnings over expenses, but with what must be done with the monies earned and they are governed by a board of directors or membership. Private sectors have owners or stockholders who are in business to make money and can distribute it to those who control it (Renz, 2016). Another difference from the private and government sector is that the private sector has an important set of rules establishing the federal law of tax-exempt organizations (Renz, 2016). With these rules, non-profits get the benefit of having tax exempt privileges.
What this means is that none of the income or assets of a tax-exempt organization subject to the private policy should be permitted to directly or indirectly unwarrantedly benefit an individual or other person who has a close relationship with the organization, when that person can exercise a significant degree of control over the entity (Renz, 2016).
While not always recognized by the public, nonprofit organizations represent a cradle-to-grave response to societal problems, moving from daycare and preschool to youth soccer leagues, legal aid, hospice care, colleges and universities, hospitals and community health centers, and substance-abuse treatment programs (Renz, 2016). According to Renz (2016), the government continues to be the cornerstone for how this sector develops by dictating how competing forms of social enterprise are allowed to function and how the nonprofit legal form exists. The continued availability of tax exemption and tax deductions means that nonprofit organizations continue to hold important advantages over rival forms however, at the same time, those tax benefits come at the cost of being obligated to governmental error. Nonprofits also remain in the public’s eye, with continued reproach for excessive executive salaries and other seeming signs of excess. Nonprofit leaders are faced with whether working with the government merits the significant costs associated with accountability. These demands for accountability must be met with a technically proficient workforce able to systematically measure and report how organizations are impacting their communities.
Renz, D. O. (2016). The Jossey-Bass Handbook of Nonprofit Leadership and Management, 4th Ed. Retrieved from https://digitalbookshelf.southuniversity.edu/#/books/9781118852941/
Management of Nonprofit Organizations. South University Online Week one
How does a person set-up an organization as a nonprofit? What type of status do they apply for? and with whom?
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