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TOWN OF APPLE VALLEY COMMUNITY DEVELOPMENT BLOCK GRANT (CBG)PROJECT APPLICATION INSTRUCTIONSAPPLICATION PROCESSNonprofit and for profit agencies interested in receiving CBG funds must submit a completed
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Non-profit organizations are entities that are not driven by profit and instead focus on serving a particular cause or mission. For-profit organizations, on the other hand, are businesses that operate with the primary goal of making a profit.
Non-profit organizations are required to file with the Internal Revenue Service (IRS) in order to maintain their tax-exempt status. For-profit organizations are required to file various financial reports with state and federal government agencies.
Non-profit organizations must fill out Form 990 or Form 990-EZ to report their financial information to the IRS. For-profit organizations must file various forms such as the annual report, income tax return, and other financial statements.
The purpose of non-profit organizations is to serve a specific mission or cause, such as providing education, healthcare, or social services. The purpose of for-profit organizations is to generate profit for their owners or shareholders.
Non-profit organizations must report their income, expenses, assets, liabilities, and other financial information. For-profit organizations must report similar financial information along with additional details such as earnings per share, revenue streams, and profit margins.
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