Profit Charity

A charity for profit entity exists, and its role is to serve a charitable mission, but they are legally for profit. Profit charities basically focus on revenue and runs like a company. Their aim is generating profit for their company. Because it is a charity for profit, they have to pay taxes for the profit they made, while a nonprofit charity will not be taxed. Charites for profit can be categorized into two different sections. Firstly, the benefit corporation charities. They can maximize their financial returns to shareholders. They consider making the profit for their shareholders and are allowed to customize the limit of profit. In the United States of America, 30 states have legalized benefit corporation, and each state has its own guideline.