- July 4, 2015
- Posted by: nathanwebster
- Category: * Mr Social Entrepreneur
There’s a lot of information on the definition of a nonprofit. Nonprofits come in all shapes and sizes. Everyone has their own definition of a nonprofit, and the perception may vary from one person to another. Therefore, let’s bring some clarity to the word and industry.
A nonprofit is a business structured to focus on a need within the community. Due to a deficiency or void of some sort, a charitable cause was born. Most take the path to become legal corporations and attain a 501c3 status. For more of a detailed focus on a nonprofit corporation, NOLO (a publishing company) has a dedicated page with FAQ. However, nonprofits are more and bigger than charitable causes.
Most Americans fail to see some of their most important agencies as a nonprofit. For entertainment, our television and cell phones are governed by a nonprofit called the government (the FCC – Federal Communications Commission). The public school (K-12 and colleges) that educated us and our upcoming generations are a nonprofit. Our churches are nonprofits. The roads we drive on are governed by local up to federal governments, but it doesn’t stop there. Majority of hospitals are nonprofits. There are a lot more nonprofit categories to name, and they’re all around us.
I write this because my business is personal because this service is for the advancement of all humanity. My failures and successes are for your gain. No strings attached.
Nathan A. Webster, MBA