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Mollie GoldmanGSCCommunity Sectors Class AssignmentThe Nonprofit Sector- Charities and FoundationsAccording to our reading in “The Nonprofit Economy”, Weisbrod describes nonprofit organizations as “organizations for charitable or mutual benefit purposes” who are exempt from income tax and receive other benefits as well in exchange for adhering to certain restrictions (Weisbrod 19). Regardless of their name, these nonprofit organizations do generate profit, but the way they utilize their profit is very restricted such as they are only able to put the profit towards specific approved uses like the ASPCA assisting animals and shelters, etc. According to the Independent Sector’s website, the IRS “defines more than 25 categories of organizations that are tax exempt from federal income taxes” and the nonprofit sector makes up …show more content…
Weisbrod also describes this sector as having “nearly one million nonprofit organizations in the United States” (Weisbrod 20). Nonprofit organizations can include charities as well as other types of organizations. The Charitable Sector. Retrieved January 29, 2018, from https://www.independentsector.org/about/the-charitable-sector/The Public Sector- GovernmentThe public sector is essentially the portion of our economy that is controlled by the government. An example of the public sector given by Britannica is “the exercise of public authority or the implementation of public policy” (Wegrich, 2014). According to the Government of Western Australia’s website, “the term public sector refers to the entities that exist and people employed for public purpose”(What is the public sector? 2014). This could also be services or organizations that the government controls like the military, public services (educational, transportation related, etc.), police, health care, and many more.What is the public sector? (2014, July 09). Retrieved February 07, 2018, from https://publicsector.wa.gov.au/about-us/what-public-sector Wegrich, K.
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Mollie GoldmanGSCCommunity Sectors Class AssignmentThe Nonprofit Sector- Charities and FoundationsAccording to our reading in “The Nonprofit Economy”, Weisbrod describes nonprofit organizations as “organizations for charitable or mutual benefit purposes” who are exempt from income tax and receive other benefits as well in exchange for adhering to certain restrictions (Weisbrod 19). Regardless of their name, these nonprofit organizations do generate profit, but the way they utilize their profit is very restricted such as they are only able to put the profit towards specific approved uses like the ASPCA assisting animals and shelters, etc. According to the Independent Sector’s website, the IRS “defines more than 25 categories of organizations that are tax exempt from federal income taxes” and the nonprofit sector makes up …show more content…
Weisbrod also describes this sector as having “nearly one million nonprofit organizations in the United States” (Weisbrod 20). Nonprofit organizations can include charities as well as other types of organizations. The Charitable Sector. Retrieved January 29, 2018, from https://www.independentsector.org/about/the-charitable-sector/The Public Sector- GovernmentThe public sector is essentially the portion of our economy that is controlled by the government. An example of the public sector given by Britannica is “the exercise of public authority or the implementation of public policy” (Wegrich, 2014). According to the Government of Western Australia’s website, “the term public sector refers to the entities that exist and people employed for public purpose”(What is the public sector? 2014). This could also be services or organizations that the government controls like the military, public services (educational, transportation related, etc.), police, health care, and many more.What is the public sector? (2014, July 09). Retrieved February 07, 2018, from https://publicsector.wa.gov.au/about-us/what-public-sector Wegrich, K.