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The major source of income of …

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The major source of income of non profit organizations

Posted by Nidhi Nidhi 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

Main source of income of No-for-Profit organisation is legacies, donations and subscriptions. A non-for-Profit organisations is set up for promoting science, commerce, social cause etc.

The main purpose is not to earn profits but to provide services.

Legacy the income received due to the death of a person who has mentioned the transfer of certain income in the will.

Donations are the major sources of such organisations. People usually donate a certain portion of their income for the welfare of the organisation.

Subscriptions are the side income of the not-for-profit organisation when a person subscribes for any activity in the various clubs inaugurated for societies's welfare.

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