March 09, 2019 Saturday
Bedtime Story
Understanding the Workings of NBME
“…and practice and includes research in
evaluation as well as development of assessment instruments.”
Indeed a noble mission as officially stated
by the NBME.
Every non-profit organization in the United
States has to fill up and file Form 990 to the Internal Revenue Service.
Form 990 is also known as the “Return of
Organization Exempt from Income Tax”.
The purpose of this Form 990 is to make it
available to public the financial information of such organizations.
Now why a nonprofit organization should be
made to declare its financial records to public since most of us do not wish to
declare our finances?
In fact, in general, most of us generally
take great pains to hide our finances from public and the only people to whom
men seek forward to openly display their wealth status (and not genuine
financial records) is the people with whom they often need to interact with for
business transactions or women whom they chose to seduce or mate with.
Well, this is because society through its government
has made a decision to exempt such organizations who claim themselves to be
non-profitable from paying any income tax.
Such organizations operate on some “higher
mission” that can either be educational, scientific, research-based,
investigative or (that ever-present devil) religious.
There is a subtle difference between
organizations that are nonprofit and those that are not-for-profit.
People often use them interchangeably but
in fact they are different at least from legal perspective.
One key difference between these two types
of organizations is that nonprofit organizations return the extra money they
generate to the donors from where the money originated or at least that is what
they are supposed to do.
Not-for-profit organizations on the other
hand use the excess money generated (which is essentially income) to pay their
members who work for them.
There are two misconceptions (or maybe not
as several apes are smart enough to have a rightful insight of human nature)
about nonprofit organizations that may be commonly held us by us apes.
One, that they do not make profit.
Second is that these organizations are run
solely by altruistic volunteers whose only reward is the fulfillment of the
goal or the mission set up by the organization.
Though it is true that success of such
organizations depend upon their mission ideology and its effectiveness any
organization in order to sustain itself must operate as a fiscally responsible
business.
Biology keeps on emphasizing this
invaluable lesson that there are no free meals.
As the Americans would say, “There ain’t no
such thing as a free lunch”.
Stay tuned to the voice of an
average story storytelling chimpanzee or login at http://panarrans.blogspot.com
Good night Mon Ami and my fellow cousin ape.
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Another great educator and a teacher that I am aware of is
Professor Subhashish Chattopadhyay in Bangalore, India.
While I narrate stories, Professor Subhashish an electronic
engineer and a former professor at BARC, does and teaches real mathematics and
physics.
He started the participation of Indian students at the
International Physics Olympiad.
Do visit him here:
All his books can be downloaded for free through this link:
For edutainment and English education of your children, I
recommend this large collection of Halloween Songs for Kids:
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