The mayor of a large city approaches a group of citizens and suggests that they form an
Question:
The mayor of a large city approaches a group of citizens and suggests that they form an organization to provide social, educational, and recreational programs for local youth. The group agrees and forms an entity called the Community Youth Organization (CYO). The group also chooses a board of directors, and the board hires an executive director and several staff members. CYO's activities are financed entirely by grants from the city and many of CYO's programs are held after-hours in the local high school. Is the CYO a not-for-profit organization or a government? Why? What changes in charac- teristics would be needed to change it from one type of entity to the other?
Step by Step Answer:
Introduction To Government And Not For Profit Accounting
ISBN: 9780130464149
5th Edition
Authors: Martin Ives, Joseph R. Razek, Gordon A. Hosch