Not For Profit

Not For Profit
A not for profit organization is a type of organization that does not earn profits for its owners. All of the money earned by or donated to a not for profit organization is used in pursuing the organization's objectives. Typically not for profit organizations are charities or other types of public service organizations. Generally, not for profit organizations can apply for a tax exempt status so that the organization is not subject to most forms of taxation. Donations made to a tax exempt not for profit organization may also be tax-deductible for the donor.

Except for the distinguishing feature that a not for profit organizations does not distribute profits to it owners, many non-profits have much in common with for-profit organizations. For example, while some not for profit organizations use only volunteer labor, any sufficiently large non-profit is likely to require a staff of paid full-time employees, managers, and directors. Indeed, since not for profit enterprises wish to accomplish their objectives in the same way as for profit enterprises, business tactics and management techniques honed in the for-profit world often work well in not for profit organizations as well.

Investment dictionary. . 2012.

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Look at other dictionaries:

  • not-for-profit — adjective a not for profit organization exists in order to help people and provide a service, rather than to make money: NON PROFIT …   Usage of the words and phrases in modern English

  • not-for-profit — adj [only before noun] especially AmE ↑non profit …   Dictionary of contemporary English

  • not-for-profit — [nät΄fər präf′it] adj. NONPROFIT …   English World dictionary

  • not-for-profit — An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses. Bloomberg Financial Dictionary * * * not for profit ˌnot for ˈprofit adjective [only before …   Financial and business terms

  • not-for-profit — adj. Not for profit is used with these nouns: ↑organization, ↑status, ↑trust …   Collocations dictionary

  • not-for-profit — UK / US adjective a not for profit organization exists in order to help people and provide a service, rather than to make money …   English dictionary

  • not-for-profit organization — UK US noun [C] ► NONPROFIT(Cf. ↑nonprofit) noun: »This section deals with the tax exempt status of not for profit organizations. → Compare CHARITY(Cf. ↑charity) …   Financial and business terms

  • not-for-profit — not′ for prof′it adj. cvb nonprofit 1) • Etymology: 1965–70 …   From formal English to slang

  • Not-for-profit arts organization — A not for profit arts organization is usually in the form of a not for profit corporation, association, or foundation. Such organizations are formed for the purpose of developing and promoting the work of artists in various visual and performing… …   Wikipedia

  • not-for-profit organization — An institution that undertakes an activity without a *profit seeking motive. Examples of not for profit organizations include charities, government institutions, and educational establishments they (and their donors) often enjoy exemption from… …   Auditor's dictionary

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