For profit vs. not for profit organizations Melinda Colp AIU Online Healthcare Administration HCM630-1203D-01 Professor Michael Schmitt September 16‚ 2012 Non-Profit healthcare organization vs. for-profit healthcare organization “Hospitals can be non-profit‚ for-profit‚ and government-owned and/or operated” (Baker & Baker‚ 2006). There are different terms for each classification in how to report and handle the finances but the basics are the same for any type of business. Business
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Performance Management in Non-Profit Organizations Ruy N (Ryan) Ribeiro 05/01/2010 Introduction Non-Profit organizations are trusted to address some the most challenging issues affecting society: ending violence in inner-city communities‚ educating disadvantaged children‚ diminishing health disparities and empowering disfranchised populations to bring about change are just a few of these very difficult tasks non-profits take on. Considering the importance of that
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Ethical Dilemmas Facing Non-Profit Hospital CEO Compensation Ethical Dilemmas Facing Non-Profit Hospital CEO Compensation Executive Summary This essay deals with the unethical prevalence of excessive compensation packages granted to nonprofit hospital executives. Nonprofits are highly complex organizations and are vital to the community’s in which they serves. Therefore‚ it is essential for these organizations to appoint highly motivated individuals knowledgeable of the healthcare industry
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Nonprofit organizations are tax-exempt under the law according to the IRS that are charitable or not-for-profit corporations that have been set up to serve some public purpose (Wolf 7). Nonprofits are organizations whose income is not used for the benefit to profit but use earnings to achieve goals. Nonprofits organizations work to assist millions of in-need individuals through various methods. In order to provide a service or supply goods all nonprofits must have a strategic plan. Therefore‚ they
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Non-Profit vs. For-Profit The main difference between non-profit and for profit healthcare organizations are; Non-profit hospitals don’t need to pay property‚ sales or income taxes and receive grants from the government and through donations. They were designed to provide discounted fees for service or no fee to those in the surrounding communities with limited to no funds for healthcare‚ basically the poor or those who fall within the guidelines of those below poverty level. The tax exemptions
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Fundraising leadership within a nonprofit organization is crucial to the success of the overall mission and controls the size of any possible impact the nonprofit can make on a community. Most often leadership is a backbone which employees use as a source for various job related problems. In the nonprofit sector leadership is even more important as many times there are fewer employees and volunteers are not as consistent as they may have other obligations that take up their time. There are multiple
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States Health System Strengths Professor Rodriguez Introduction For-profit hospitals provide a service to make a profit which is returned first to organizations and then to their shareholders. Non-profit hospitals exist first to provide a service and second to accumulate assets which are returned to the hospital ’s community in the form of additional services (Consumers Union‚ 1998). Johns Hopkins Hospital is non-profit healthcare organization that provides many service to the Baltimore community
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A nonprofit organization is fundamentally different than a for-profit organization. A social mission is at the center of a nonprofit and the organization exists to provide a particular service or services to the community and there is no “bottom line”. A for-profit organization exists primarily to generate a profit for the shareholders/owners. There are numerous differences between nonprofit and for-profit entities in addition to the fundamental differences stated above. The main differences
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Financial Management in Nonprofit Organizations - Discuss financial management in nonprofit organizations and write an essay that compares and contrasts the application of financial management techniques in nonprofit and for-profit organizations. Sources of funds‚ use of debt‚ performance evaluation (efficiency in use of contributions and meeting the organization’s objectives)‚ governance mechanisms in non-profits‚ etc. would be good topics/issues for discussion in the essay. In order for
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Here I have demonstrated my knowledge of the function of financial literacy and the role of stewardship in the effective oversight and management of nonprofit organization resources. Nonprofit managers need to be able to solve a variety of problems. Knowledge and skills are the tools within the metaphorical tool boxes and will enable us to find the right situations. Having a large tool box will ensure we are able to fix a wider variety of problems ‚but knowing how to use each tool and when to the
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