Non-profit organizations

Company Formation
In United States, a nonprofit organization is formed according to the Not-for-Profit Corporation law. The state and federal laws will require a very specific purpose clause in order to approve the formation of a nonprofit organization (“ Non-profit organizations”). Obtaining tax exemption status is an important procedure of setting up a nonprofit. American Red Cross and Amnesty International are two popular examples of nonprofit organizations.
A minimum of two directors are required for the formation of a publicly-traded company in the United States. Different types of shares such as equity shares and preference shares may be issued to accumulate the initial capital needed for the creation of the company. Microsoft and Apple are two major publicly-traded companies in the United States.
After choosing the type of business (limited-liability company or partnership), the firm’s name should be registered with the local/state government. Then the business concern should acquire the federal tax ID and register with the state revenue agency. Ernst & Young and Deloitte are two non publicly-traded companies in US.
American Red Cross
American Red Cross was established by Clara Barton in 1881after organizing a meeting of 15 people. Currently the organization has no subsidiaries. The organization invests in marketing campaigns as part of its fundraising efforts. This nonprofit organization acquired $3. 4billion and $3. 5 billion in revenues for the fiscal years 2013 and 2014 respectively. While analyzing the recent annual reports of the American Red Cross, it seems that the organization maintains a healthy financial status.
www. redcross. org
Amnesty International
Amnesty International was founded by Peter Benenson in 1961. It has no subsidiaries. The organization also invests in marketing initiatives in an attempt to raise sufficient amount of donations. For the fiscal years 2013 Amnesty International gained revenues of £24. 8m. As the organization has access to potential sources of finance, its financial position is very strong.
www. amnesty. org
Microsoft
Microsoft was founded in 1975 by Bill Gates and Paul Allen. Microsoft has hundreds of subsidiary businesses, and some major subsidiaries include Microsoft Global Finance, Microsoft General Management Company, Microsoft Licensing, and Microsoft PF Holdings. Microsoft’s revenues rose from US$77. 85 billion in 2013 to US$86. 83 in 2014 although the company’s growth declined in 2014 compared to the previous fiscal year (“ Microsoft’s global revenue 2002 to 2014”).
www. microsoft. com
Apple
Apple was founded by Steve Jobs in 1976. FileMaker Inc, Anobit, Braeburn Capital, and Beats Electronics are the major subsidiaries of Apple. The firm’s revenues improved from US$170. 9 billion in 2013 to US$182. 795 in 2014 and this revenue growth strengthened the financial status of the Apple.
www. apple. com
Ernst & Young
Ernst & Young was founded as a result of a series of mergers. The major subsidiaries of the organization include Ernst & Young Associates Pte Ltd, Ernst & Young Global (Asia-Pacific) Pte Ltd, and Ernst & Young Corporate Finance Pte Ltd. The organization’s revenues increased from US$25. 8 billion in 2013 to US$27. 4 billion in 2014. The company has the strength of high financial stability.
www. EY. com
Deloitte
The formation of Deloitte can be dated back to 1845 when William Welch Deloitte opened an office in London. The company’s subsidiaries include Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, and Deloitte Tax LLP (“ Company Overview of Deloitte LLP”). The firm’s revenues increased from US$31. 3 billion in 2012-13 fiscal year to US$34. 2 billion in 2013-14 fiscal period. The company enjoys a strong financial position.
www. deloitte. com
Works Cited
“ Company Overview of Deloitte LLP”. Bloomberg. Web 3 April 2015. http://www. bloomberg. com/research/stocks/private/snapshot. asp? privcapId= 12736281
“ Microsoft’s global revenue 2002 to 2014”. Statista. Web 3 April 2015. http://www. statista. com/statistics/267805/microsofts-global-revenue-since-2002/
“ Non-profit organizations”. USA Corporate Services, Inc, Web 3 April 2015. http://www. usa-corporate. com/business-start-up-resources/nonprofit-corporations-exempt-organizations-not-for-profit/