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Charitable Organizations - Essay Example
Charitable organizations work for the purpose of doing charitable work. The United Kingdom has around 200,000 charitable organizations, which is a very large number. They are divided in such a way which distributes them between three different regulatory bodies…
They just have to manage funds. Lastly, the intangible benefits are immense when it comes to serving in a charitable organization. As for the disadvantages, employee retention and recruitment is a matter of concern as the salary is low and commitment needed is high. Lastly, when charities are newly established, fund raising is a major issue as people doubt their credibility.
Charitable organizations are those companies who are working for the sole purpose of doing something good for the society. The organization has charity-oriented factors as its aims and objectives as opposed to a normal company, whose major aim is to maximize its profits. There can be many types of charitable organizations, namely trusts, foundations and associates which are working as unincorporated (Petit-Zaman, 2006). A company might start off with charitable purposes or might become a charitable organization after some time passes after its establishment.
There is a difference between a charitable organization and not-for-profit organizations. Charitable organizations are a subset of not-for-profit organizations. Not-for-profit organizations are those which are incorporated as an organization. They have a separate legal entity. They are neither working for purely charitable purposes nor for profit maximization. ...