1.2e Non-Profit Organisations Flashcards
1
Q
Non-profit organisations definition
A
Organisations that do not have an aim of making profit for the owner
2
Q
What do non-profit organisations do with profit?
A
- Reinvest it back into the business
- Put it towards reaching its objectives
3
Q
Are charities a separate legal status?
A
No
4
Q
Requirements for a charity
A
- Must have exclusively charitable aims
- Approved by charities commission
- Trustees are not allowed to receive financial benefits from the charity
5
Q
Social enterprise definition
A
Business who’s profits are reinvested into the business or with other stakeholders
6
Q
Features of social enterprise
A
- Underprivileged/less able employees
- Environmentally friendly materials
- Profit to help stakeholders
- Provides service to local community
7
Q
Pressure group definition
A
Organisation formed by a group of like-minded people who wish to exert their feelings.
8
Q
What are mutual societies also known as?
A
Industrial societies or provident societies
9
Q
Who are mutual societies owned by?
A
Employees/members
10
Q
What tax do charities not have to pay?
A
- Income tax
- Capital gains tax
- Stamp duty
- Inheritance tax
