Notes for Not-for - profit organization
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The members of the organisation elect the trustees. The Not-for-Profit Organisations raise funds from its members as well as from the general public for meeting their objectives. The main motive of these organisations is to provide service. However, they may earn profits in the due course.
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Characteristics or features of Not-For-Profit Organisation. Entity: has a separate legal entity promoted by individuals. Purpose: is to further cultural, educational, religious, professional objectives and rendering service to people at large. Ownership: it is set up as charitable society or trust.
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