Management and structure
MCO Group is a Nonprofit organization, also known as charitable organization, non-governmental organization, or tax-exempt organization, or corporate entity formed for the purpose of fulfilling a mission to improve the common good of society rather than to acquire and distribute profits. Nonprofit organizations provide a vehicle for people to do things that they cannot do apart, in which they are engaged in communities. Sometimes the need for these activities is explained as market failure or government failure. In any case, a common affinity brings people together for small and large causes — from coin collecting to climate change — and the organizations they form are held in common for mutual benefit.
The defining feature of nonprofit organizations is that they do not distribute a financial return (equity), or profit, to private individuals. Nonprofit organizations are subject to certain specific benefits as well as obligations, which are governed by Minnesota state statutes and the IRS. There are more than 25 different types of nonprofits defined in the IRS code, with the most common type is 501(c)(3).
Nonprofit organizations must be guided by their charitable mission and led by a board of directors. That board will set the strategic direction of the organization and hire additional staff needed to fulfill its mission.
We provide a breakdown of our funding sources. More than two-thirds of our income is generated from teaching, administering exams and from partnerships and contracts. The remainder comes from government as grant.