Not-For-Profit
The phrase is essentially over all used to
describe organizations that have perceived an exemption
from taxation by their government based on the socially
useful attributions of their purpose.
A
not-for-profit corporation does not issue stock or pay
dividends which is the primary different between a for
profit corporation. Non profits may still have employees
and can compensate their directors within reasonable
bounds. There are two major types of not-for-profit
organization and they are membership and board-only. A
board only organization has a self-selected board, and
membership whose powers are delegated to it by the
board. A membership elects the board and has regular
meetings and power to change the bylaws. Not-for-Profit
organization may apply for tax exempt in many countries
so they can be exempt form income tax and other taxes.
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With our educational system dictating salaries
yet seeing a dedicated employee get passed up by
a new young employee is our system really
balanced? Is it really fair that an employee
with an experience of twelve years gets paid
nine dollars an hour. Than someone walks into
his work with a college degree and on the first
day starts making twenty dollars an hour. When
really they are actually doing the same job just
one had the opportunity to go to college.
