Once you’ve decided that incorporating is right for your business, the next step is to consider the various types of Corporations available. There are generally four types of entities commonly used for incorporation. These include C Corporations, S Corporations, Nonprofit Corporations, and Professiona...
Nonprofit corporation Sole proprietorship A sole proprietorship is the simplest type of business structure, where one person owns and operates the business. This structure provides total control and flexibility for the owner, but it also exposes them to unlimited personal liability for the business’s...
Structure in business is the system of authority, communication, and rights and duties within an organization. It defines how tasks are divided, who is responsible for what, and how decisions are made. An effective business structure enables employees to understand their roles and responsibilities an...
An executive secretary is often the assistant to the leader of a particular organization or of a department within a company. For example, a nonprofit director might have an executive secretary, who might then supervise the secretarial staff members who perform routine administrative tasks. His or ...
A nonprofit doesn’t have any owners or shareholders. A B corporation is basically a for-profit company with a social mission with the end goal of returning profits to shareholders. Close Corporation Also known as privately held companies, close corporations are similar to B corps but have a...
A board of directors is responsible for the operations of an HOA. Newer communities may still have boards controlled by builders and developers. Board members are volunteers who work to enforce governing documents, manage financial aspects, and maintain common areas. Essentially the lawbook by which...
Medical malpractice attorneys are tasked with handling lawsuits against medical practitioners on behalf of their clients, who are either patients or family members of patients. Since the medical field itself is very complex, malpractice lawyers are required to do a rigorous analysis of medical records...
Taxable Wages. Rates, units, amounts, or other values that you enter manually or load into Workday Payroll for a worker's on cycle or off cycle run. A collection of instructions, sections, and questions that can be used when you start an employee review. Depending on volume of changes ...
Number of clients or customers Investment earningsMany government agencies undergo statutory audits and make the findings available to the public, which improves transparency and public trust. 13. Value-for-money auditValue-for-money audits are often implemented in nonprofit organizations to assess resour...
The term endowment is also used to refer to the total investable assets of a nonprofit institution like a university. The endowment, also known as the institution's “principal” or “corpus,” is used for operations or programs that are consistent with the wishes of the donor(s). ...