Characteristics of Not for Profit Organisation:

a.     Formed for providing service to a specific group or public at large.

b.     Organized as charitable trust/society.

c.     Managed by Managing Committee elected by members.

d.     Main Source of Income is:

        Subscriptions, donations, government general grants etc

e.     Funds raised through various sources are credited to capital fund

f.     Government Schools, Charitable hospitals, Recreational Clubs, etc are examples of Not for profit organisation.