Charities
From WikiTextbook
Charities are organisations that aim to provide help to those in need of it or to support good causes. These good causes will range from helping the needy (examples are famine relief, cancer research, Childline and animal welfare) to promoting certain causes (examples are helping the environment, road safety and anti-nuclear weapons groups). Many charities will have staff who are paid wages to work for the charity, helping to raise money for the ‘cause’. The profits that the charity makes are used to help the needy or promote good causes.
Liability
Many charities have liability limited by guarantee. This means that a few people have agreed to be members and guarantee the debts. These guarantees are usually very small, no more than £10 a head. This means that the term limited by guarantee is a warning to other businesses that debts are unlikely to be paid if the charity fails. It is rare to find a company that is not charity that uses limited by guarantee.
