The Third Sector

The Third Sector is an umbrella term that comprises non-profit social organisations whose main undertaking is public services, as a volunteering organisation would act. In order for a company to be described as third sector, it has to meet five basic requiremrents: - they need to be formally organised - they are private, which means that they operate free of government's intervention - they don't depend on government's money, being perfectly capable of existing on their own. - profit isn't directed neither at its members nor at its founders. - people are allowed to freely join in. The presence of a large non-profit sector is sometimes seen as an indicator of a healthy economy in local and national financial measurements. With a growing number of non-profit organisations focused on social services, the environment, education and other unmet needs throughout society, the nonprofit sector is increasingly central to the health and well-being of society.