Make big profit

Deborah C asked:


If one started a business and wanted to pay their volunteers; is that under the heading of non profit or not profit?

Category: Corporations by admin

5 Responses to “What is the difference between not for profit and non profit companies?”

1. davy_rob7, on October 20th, 2008 at 6:24 am Said:

   they wouldn’t be volunteers they would be employees

2. enufwork, on October 20th, 2008 at 11:20 am Said:

   Probably the wording of laws in the state where they incorporate.

   A non-profit can still have paid employees… most hospitals pay the people who work there.

   Aloha

3. Tracy C, on October 22nd, 2008 at 7:06 pm Said:

   A non profit is a company that does not operate to generate a profit from the people it serves. All of the companys income comes from grants, monetary and inkind donations from sponsors, collaborators parters and sometimes the people it serves. and are often tax exempt.

   I have worked for a non profit (or Not-for-profit) organization for six years.

   Feel free to email me if u have further questions.

4. Ted, on October 23rd, 2008 at 2:34 pm Said:

   I am not exactly sure but it can be under both.
   Non profit is generally like American cancer soc. or church, religious or human service org. who works for charity. while not 4 profit is organization who doesn’t fall as non profit, but they do not work for profit, not 4 profit must distribute all profit at the end of fiscal year. in other words, they can’t make profit.

5. what the heck?, on October 25th, 2008 at 11:52 pm Said:

   The terms are identical – kinda like tomato – tomahto. If volunteers were to be paid, they would become employees. A non profit company does not have shareholders, so the earnings of the company cannot be distributed. Non profits fall under IRS code 401c3.

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