An Organization For Profit Organization Essay

1512 Words Nov 19th, 2015 null Page
Arts organizations often operate in a not-for-profit environment. In brief, not-for-profit organization is an organization that does not seek profit. It is obvious that not-for-profit organizations cannot be operated without “profit” and most of the not-for-profit organizations do commercial activities. However, any profit must return to the organization to support their mission in a not-for-profit organization. The goal of a not-for-profit organization may be its mission, not just money. The organization should serve the mission and contribute to the public and its society. The only reason to make money is to continue serving the mission and operating the organization. For example, an organization makes money by offering programs or selling merchandise, and this money should be invested to offer next program. In for-profit sector, there are several business structures. Corporations, unincorporated businesses, and limited liability corporation (LLC) are examples of business structures they can choose. However, every not-for-profit organization is a corporation. There is no not-for-profit organization that is in unincorporated business structure, such as a sole proprietorship or partnership in for-profit sector. A corporation is a legal entity that is separate from any individual owner. In this case, the mission of the organization is protected, and the organization can continue its operation without the founders (Rosewall, 2014). Planning is an important process that…

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