Non-profits are big business.Ottawa--Canada's non-profit sector The nonprofit sector, also called the third sector, civic sector or voluntary sector, is a third area of an economy, distinct from the public sector and the private sector. It is made up of all of the non-profit organizations in the economy. is big business and is growing, a Statistics Canada report shows. Its share of gross domestic product is larger than the mining, oil and gas extraction industry, the entire retail trade industry, motor vehicle manufacturing, agriculture and the accommodation and food services food services Hospital services A 24/7 department in a hospital that provides for the nutritional needs of inpatients–eg, those needing special diets, preparing meals and transporting them to the floor and, through the cafeteria, the hospital staff and industry. Social service organizations led the sector in economic contribution to GDP GDP (guanosine diphosphate): see guanine. . The overall non-profit sector includes hospitals, universities and colleges, which grew by an annual rate of 5.4% between 1997 and 2001. It also includes. generally smaller organizations, designated as the "core non-profit sector," which grew by 7.1% in the same period, a rate of growth twice as fast as the entire GDP for Canada. The value of the non-profit sector, estimated at more than $60 billion in 2001, accounted for 6.8% of GDP. Volunteer work accounted for about one-third of its economic activity. The estimates include the replacement value of volunteer labour, and is approximately $14 billion for the core non-profit organizations A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. . Social service groups which include family services, daycare, shelters, services for youth, the elderly, or persons with disabilities led the field in the rate of economic activity growing by 23.5% annually. Total revenues for the non-profit sector include sales of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. .arid ar·id adj. 1. Lacking moisture, especially having insufficient rainfall to support trees or woody plants: an arid climate. 2. donations. Federal government transfers to the core non profit organizations increased while the provincial shares declined. The social services social services Noun, pl welfare services provided by local authorities or a state agency for people with particular social needs social services npl → servicios mpl sociales group had a 13.5% increase. Employee compensation accounted for 56.8% of current spending. In 2000, non-profit organizations paid $56.4 billion in compensation to employees and received the equivalent of $14.0 billion in estimated volunteer work nearly one-fifth of the total value of labour resources employed. The overall value of labour resources employed by these generally smaller organizations represented 5.5% of the wage bill for the Canadian economy in 2000, compared with 12.9% for the non-profit sector as a whole. The full report Satellite Account of Non-profit Institutions and Volunteering, 1997 to 2001 (13-015-XIE, free) is available from Statistics Canada.(www.statcan.ca) |
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