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A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status.
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References
- ↑ "Ghost Dancing | Anna Linzer | Macmillan". us.macmillan.com. Archived from the original on 2011-06-18. Retrieved 2017-02-24.
- ↑ "CausePlanet.org". causeplanet.org. Archived from the original on 2017-02-25. Retrieved 2017-02-24.
