What is the purpose of Non-Profit Organisations?
What is a typical requirement of a consumer cooperative?
Answers
Explanation:
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Cooperatives generally have a purpose of benefiting their members, whereas nonprofit public benefit corporations are required to focus on public benefit, and 501(c)(3) nonprofits generally must focus on achieving very educational, religious, and/or scientificspecific charitable, purposes.
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Usually,non profit organisations are intended to achieve a particular common mission through fund generation from general public and other private organisations/agencies and volunteer services of their members.These organisation are not motivated by monetary or financial incentives such as profit.
Explanation:
Non-profit organisations are not mainly intended to generate any organisational economic or financial benefits such as revenue or profit.These organisations basically strive to attain a certain welfare objective by utilizing public donations and volunteer services provided by their internal members.In most cases,non profit agencies work for any social,economic or charitable causes such as expanding educational or medical/health facilities in the rural and underdeveloped areas,initiating literacy program for rural women,extending social and charitable services for underprivileged and poor children and so forth which usually do not involve any profit or revenue motivation.
A consumer cooperative basically constitutes a business or commercial organisation or activity that is owned,administered and run by consumers.As an official requirement to establish or initiate consumer cooperative,a minimum of 10 people are required to constitute an official voluntary association or organisation which has to be compulsorily registered or acknowledged under the Cooperative Societies Act.