Nonprofit
organization (sometimes abbreviated to "not-for-profit",
"non-profit", or "NPO") is an
organization whose primary objective is to support
some issue or matter of private interest or public
concern for non-commercial purposes. Nonprofits may
be involved in an innumerable range of areas relating
to the arts, charities, education, politics, religion,
research, or some other endeavor. distinguishes non-profits
from commercial enterprises.
A more precise term is 'not for profit', rather than
'nonprofit', and this is often used in legislation
and texts.Nonprofits generally do not operate to generate
profit, and this characteristic is popularly considered
to be the defining characterisitic of such organizations.
However, a non-profit organization may accept, hold
and disburse money and other things of value. It may
also legally and ethically trade at a profit.
The extent to which it can generate income may be
constrained, or the use of those profits may be restricted.
Nonprofits are therefore typically funded by donations
from the private or public sector, and often have
tax exempt status. Private donations may sometimes
be tax deductible. |
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