not for profit organisation

[johno]

bruno as you continue to close posts would you kindly explain to me what a not for profit organisation is. i believed it was straight forward not for profit. i am sure tessa jowell or her representatives will be able to tell me. it will become clear when under the freedom of information act i get a look at the original application including bank statements etc submitted to verify the accounts.

[madmaxlofts]

come on bruno spit it out

[Guest]

Profit is the sum left over after all liabilities have been met and belongs to the shareholders.

 

All organisations aim for a surplus year on year in the balance sheet, not-for-profit organisations show theirs as reserves , and these sums belong to its members.

 

An organisation that spends what it earns each year, public, private, not-for-profit  or voluntary sector, isn't viable in the long term.

 

Luckily, the folk that administer the Lottery Fund know that, and they check it all out before an award is made.