Nonprofits are unique entities created to provide a public service, rather than generate profit. Therefore, nonprofits can enjoy special tax-exempt status with the IRS. Nonprofits also receive grants and other forms of donations to support their operation. These special features unique to nonprofits require highly customized forms of budgeting and accounting, not taught in general management schools.
Nonprofits typically deliver ongoing services in the form of organizational programs. Therefore, it’s important that nonprofit management understand the basic principles of program development and evaluation.