Cancer Research UK is a charity that was founded in February 2002

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Cancer Research UK is a charity that was founded in February 2002 by the merger of the Cancer Research Campaign and the Imperial Cancer Research Fund. It is a non for profit organisation which means it has a purpose but does not aim to make profit. Non-For-Profit organisations don’t just look to make money, they seek to make a change in society like Cancer Research UK. They have people working together to make the best use of the funds they receive and carry research in order to essentially cure cancer and raise its awareness. They focus on providing as much social help as possible. They get their funds from the government, which include tax exemptions, so they don’t have to pay taxes since they have no source of income enough to pay taxes. In 2014/15 the charity spent £422.67 million on cancer research projects that is 67% of its total income for that year. The remaining costs were spent on trading, fundraising costs and on information services. Their annual revenue reaches nearly £650 million per annum. The ownership of Cancer Research is non-for-profit organisation. They get funding, raise money through charity and accept donations. It is a registered charity in the UK so it uses all its resources and assets to charitable causes and activities and don’t have any motive of their own with regards to the money. And in a registred charity there are trustees who are equivalent as shareholders in a PLC. Trustees form the government body of a charity. Cancer Research is a Tertiary sector. They provide a service; they also sell a service. They take all the big decisions and play an important role in making sure the money received is spent correctly and to clear debts. More than 4000 Researhers, Doctors and Nurses across the UK volunteer to work for the Cancer Research. The turnover for Cancer Research for 2009 was £468,345 million.