Title: Explain the advantages and disadvantages of operating as a for-profit or nonprofit organization.
Course: Sports, Entertainment, and Event Management > Section: Explaining the Structure of Sports, Entertainment, and Event Businesses

Explanation should include

- advantages of for-profit (e.g., business growth, investment potential)
- disadvantages of for-profit (e.g., loss of revenue, business risk)
- advantages of nonprofit (e.g., tax exemptions, more public support)
- disadvantages of nonprofit (e.g., skepticism, insufficient volunteers, complex regulatory requirements)
- evaluation of which alternative best aligns with the objectives.

Process/Skill Questions:

- What are the tax implications for a profit vs. a nonprofit organization?
- What are the most common and effective sources of fundraising options for a nonprofit organization?
- What factors influence the decision to establish a for profit vs. a nonprofit organization?
- What mission or purpose drives a nonprofit organization instead of financial gain?