A non-profit organization is one that, by law, is unable to hold or distribute profits like a "for-profit" organization can. This means that the non-profit company is required by law to redistribute any "profits" back into the company (in the form of salaries, new capital, etc), or to other non-profits or to charity. This also means that non-profit companies do not have the ability to issue or sell stock/shares and, therefore, cannot pay dividends on any earnings.
Furthermore, non-profit companies may be required to have an unpaid (volunteer) board of directors with a larger number of directors than a business corporation.
Although some non-profits may run very similar to some for-profit companies, the laws restricting the two are very different.
Non-Profit Organizations are mainly those which is set up for philanthropic purposes. Social Organizations that collects money and utilize for some social work, is one example, but there are thousands of others.
It should also be noted that a non-profit organization is not necessarily "tax-exempt" and may have to pay income taxes and collect sales taxes on its products and services.
AddendumNote that a Non Profit Organization should not be confused with a Non Governmental Organization.
Nonprofit organization: A nonprofit organization is a business that has been granted tax-exempt status by the Internal Revenue Service (IRS) because it furthers a social cause and provides a public benefit.
A nonprofit organization is a tax-exempt organization that does not declare a profit. All proceeds after operating expenses are met are used to serve the public interest.
yes they are a nonprofit organization
nonprofit downtown-development organization
Can a nonprofit foundation give money to a for profit organization
An organization that was not made to make money.
Microsoft is not a non-profit organization.
yes
schools,churches,hospitals
No, it is a commercial enterprise.
Designation as a nonprofit does not mean that the organization does not intend to make a profit. The nonprofit may also be a trust or association of members.
Nonprofit grants are given out for a variety of purposes. One such purpose is to help another organization or agency. Some nonprofit grants are also given out as scholarships or fellowships to individuals (usually students) based on requirements set by the nonprofit organization.
It is independent non profit, which means the agency has a governing board and a separate 501 (c) 3.
Definitely