Expert: Neicey Johnson
Topic: GLN TeachAbout - NonProfit and ForProfit Collaboration - Neicey Johnson
Time: Mar 2, 2022 01:00 PM Eastern Time (US and Canada)
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Meeting ID: 827 9659 9059
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What stands out to you in this explanation of nonprofits?https://en.wikipedia.org/wiki/Nonprofit_organization
I found these statements to be intriguing:
"A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties."
"The key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to every person who has invested time, money, and faith into the organization."
"Nonprofit and not-for-profit are terms that are used similarly, but do not mean the same thing."
This article highlights 7 areas of difference between nonprofit and for profit organizations - https://online.norwich.edu/academic-programs/resources/7-key-differ...
What are the implications of these differences to collaboration between nonprofit and forprofit entities?
What other differences might we consider?
Neicey - thank you.
We learned so much from you and your presentation provided us with terminology and insights that will help us work better together - faster.
To all - Neicey has kindly and generously provided a copy of her presentation which is attached to this reply.
Thank you Paul and those who attended the TeachAbout live!
It is a great pleasure to be in the company of esteemed colleagues.