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Showing posts from July, 2023

What Does Having a Non Profit Business Really Mean? ~Read on to Find Out!

This is a big one; it's a big topic that I'll try to simplify and clarify for the reader as much as possible.      The  Wikipedia  Legal Definition of a nonprofit is a good place to start: a legal entity organized and operated for a collective, public or social benefit, in contrary with an entity that operates as a business aiming to generate a profit for its owners.       That seems pretty clear, right?  -While the basic definition of a nonprofit isn't particularly confusing or convoluted, it somehow lends itself to so many misconceptions, misinterpretations and misunderstandings.       That in and of itself is part of why I wanted to blog on this topic.      So, according to the above definition a nonprofit must exist to serve some positive social purpose, right?   -That is right, but let's not forget that the positive impact of a nonprofit can be highly focused and concentrated on a teeny-tiny fragment of the general population.      Here's an example of that: