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A mission is not simply a description of an organization by an external party, but an expression, made by an organization's leaders, of their desires and intent for the organization. A mission statement aims to communicate the organisation's purpose and direction to its employees, customers, vendors, and other stakeholders.
Annual reports are intended to give shareholders and other interested people information about the company's activities and financial performance. They may be considered as grey literature. Most jurisdictions require companies to prepare and disclose annual reports, and many require the annual report to be filed at the company's registry.
A benefit corporation must produce an annual report for each of its shareholders so that the company can be assessed by a third party. The report will have to include the efforts that have been made in order to achieve a general public benefit and will all have to be stated on the annual report that should be available on the company website. [4]
Suppose that a for-profit corporation plans to manufacture and sell an anti-malarial drug and, as part of its business plan, will distribute that drug at low or no cost in African countries. If distribution in Africa is the corporation's sole benefit purpose, the corporation could appropriately be a SP corporation.
A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. [1] An NFPO does not earn profit for its owners, as any revenue generated by its activities must be put back into the organization.
In the Philippines, a non-stock corporation may be formed or organized for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes and must distribute no part of its income as dividends to its members, trustees, or officers, and any profit obtained as an incident to its operations shall, whenever necessary or ...
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NPower is a national nonprofit 501(c)(3) organization that provides free tech training for careers in Information Technology to military veterans and young adults from under-served communities. Their mission is to move people from poverty to the middle class by creating access and pathways to careers in technology fields.