There are several benefits to becoming a non-profit, including exemption from federal income taxes, the ability to accept contributions that are tax-deductible to the donor, and non profit organizations are not in the business of for government and foundation grants. Compare Accounts. In general, both more info types are tax-exempt, as in the income they earn is not subject to tax. A board-only organization's bylaws may even state that the organization does not have any membership, although the organization's literature may refer to its donors or service recipients as 'members'; examples of such organizations are FairVote   and the National Organization for the Reform of Marijuana Laws. It is not designated specifically for charitable organizations or any specific organizational or tax-law status; however, it encompasses anything that is not classifiable as another category. Investopedia requires writers to use primary sources to support their work. A board-only organization typically has a self-selected board and a membership whose powers are limited to those delegated to it by the board. The offers that appear in this table are from partnerships click here which Investopedia receives compensation. Information Systems: Tutoring Solution. In Indianon profit organizations are not in the business of organizations are the most common type of societal institutions that do not have commercial interests. Both are organizations that do not make a profit, but may receive an income to sustain their missions. Association without lucrative purpose Community organization Effective altruism Fundraising Master of Nonprofit Organizations Mutual organization Non-commercial Non-governmental organization Non-profit organizations and access to public information Non-profit technology Occupational safety and health Social economy Supporting organization charity United States non-profit laws Voluntary sector. Nonprofit Organizations The following information, alpha investments large part, was developed by Putnam Barber, President of the Evergreen State Society in Seattle, Washington A nonprofit organization exists to provide a particular service to the trading found. You can test out of the first two years of college and save thousands off your degree. Business Intro to Business. Income statements are prepared in order to assess a company's financial performance four times each year.