Professional Documents
Culture Documents
(500 words)
Non-profit organizations are entities that is being formed to be beneficial to the public.
NPO’s play an important role in addressing social, environmental, and humanitarian issues in the
country. They are often at the forefront of social change and provide much-needed services to
those who are most vulnerable. The primary purpose of a Non-profit organization is not to
generate financial profits for the owner or shareholders but rather to fulfill a specific mission
which is serving the public or a particular community. Due to its purpose a non-profit
organization receives a tax-exempt status not just in the Philippines but also in other countries.
Non-profit organizations are typically motivated by a strong sense of civic responsibility
and a desire to make a positive social impact, make substantial contributions to the nation's
progress and welfare. Through Non-profit organizations, people can combine their resources and
expertise to accomplish shared objectives. Additionally, they give workers the chance to apply
their skills for the greater good rather than only being driven by financial gain. Many individuals,
inspired by a sense of social responsibility, contribute their time and skills to support various
causes. Volunteers often play a hands-on role in implementing programs, extending the reach of
Non-profit organizations and enhancing their impact.
Growing up I always see a box or bowl labeled “Bantay Bata 163” in front of a cashier’s
table wherein customers drop any amount of money on it. It is the first Non-profit organization I
recognized, this organization helps to protect those disadvantaged and at risked children. It is a
Non-profit organization establish by ABS-CBN, started as a helpline for abused children but
evolved to become a comprehensive child institution. In order for the organization to raise funds
for the operational expenses in helping those children they seek for donations from individuals,
grants from foundations and government agencies, sponsorships, and revenue generated through
fundraising such as Project Happy Feet Slipper Race Cebu-2013.
On my own understanding since Non-profit organizations is not establish primarily
purpose of generating profit for the benefit of its owner, its profits are used in the entities
operating expenses to enhance its services and infrastructures to better serve those who are in
need that aligns the purpose of the organization. Through donations from individuals, grants
from foundations and government agencies, sponsorships, and revenue generated through
fundraising a Non-profit organization will be able to sustain the main purpose of establishing it,
and Non-profits organizations are often required to disclose financial information and other
details to the public, donors, and regulatory bodies to uphold these standards. It helps the
government in improving the lives of each citizen of the community who are in need especially
those who are poor. Non-profit organizations are integral into addressing societal challenges and
fostering positive change. Driven by a commitment to mission, these entities operate with
transparency, accountability, and a focus on social impact. Through diverse funding sources,
volunteer efforts, and collaborative initiatives, non-profits continue to make meaningful
contributions to the well-being of individuals and communities around the world.
Employers fund and guarantee a specific retirement benefit amount for each
participant of a defined-benefit pension plan.
Defined-benefit plans provide eligible employees with guaranteed income
for life when they retire. Employers guarantee a specific retirement benefit
amount for each participant based on factors such as the employee's
salary and years of service.
Employees have little control over the funds until they are received in
retirement. The company takes responsibility for the investment and
distribution to the retiree. That means the employer bears the risk that the
returns on the investment will not cover the defined-benefit amount due to
a retired employee.