A nonprofit organization is a corporation formed for purposes other than generating a profit and in which no part of the organization's income is distributed to its directors or officers. Nonprofit organizations are formed pursuant to state law, often under the Revised Model Non-Profit Corporation Act(1986). A nonprofit corporation can be a church or church association, school, charity, medical provider, legal aid society, volunteer services organization, professional association, research institute, museum, or in some cases a sports association. Nonprofit organizations must apply for tax-exempt status at both the federal and state level.
An organization recognized by the government for its service work that (a) does not pay income taxes and (b) has no shareholders.
a business with a strong bottom-line focus on carrying out its mission, rather than on netting a financial profit
a corporation that is formed pursuant to a different state law than a standard for-profit corporation
Any organization (including a faith-based organization or a community development corporation) exempt from taxation under section 501(a) of the Internal Revenue Code of 1986 by reason of paragraph (3) or (4) of section 501(c) of such Code. Proof of nonprofit status may be documented by: A reference to the applicant organization’s listing in the Internal Revenue Service’s (IRS) most recent list of tax-exempt organizations described in the IRS Code; A copy of a currently valid IRS tax exemption certificate; A statement from a State taxing body, State attorney general, or other appropriate State official certifying that the applicant organization has a nonprofit status and that none of the net earnings accrue to any private shareholders or individuals; d. A certified copy of the organization’s certificate of incorporation or similar document that clearly establishes nonprofit status.
A term describing the Internal Revenue Service's designation of an organization whose income is not used for the benefit or private gain of stockholders, directors, or any other persons with an interest in the company. A nonprofit organization's income must be used solely to support its operations and stated purpose.
is one that has committed legally not to distribute any net earnings (profits) to individuals with control over it such as members, officers, directors, or trustees. It may pay them for services rendered and goods provided. Also known as NOT-FOR-PROFIT ORGANIZATION.
An organization who meets the definition of a 501(c)(3) non-profit organization with the Internal Revenue Service.
a group of people that share a purpose other than to earn a profit, for example, church -run hospitals, labor unions, environmental groups, youth development organizations, political parties, museums and zoos.
An organization that is legally incorporated provincially or federally. Nonprofit organizations are governed by volunteer Boards of Directors, which are responsible for ensuring the organizations adhere to their mission and bylaws. All revenues in excess of expenditures in a given year are used for the organizations' programs, services and operations in the following year.
A nonprofit organization (sometimes abbreviated to "not-for-profit," "non-profit","NPO" or "NGO" for non-governmental organization) is an organization whose primary objective is to support some issue or matter of private interest or public concern for non-commercial purposes. ( http://en.wikipedia.org/wiki/Nonprofit)
An entity without a profit objective, oriented toward providing services efficiently and effectively.
A nonprofit (or not-for-profit) organization is an organization that is not operated for the purpose of making a profit for its owners or shareholders. It may or may not also be a tax-exempt organization.