A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization (NFPO), or simply nonprofit, is a non-governmental entity that operates for a collective, public, or social benefit, rather than to generate profit for private owners. Nonprofit organizations are subject to a non-distribution constraint, meaning that any revenue exceeding expenses must be used to further the organization’s purpose.
A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization (NFPO), or simply nonprofit, is a non-governmental entity that operates for a collective, public, or social benefit, rather than to generate profit for private owners. Nonprofit organizations are subject to a non-distribution constraint, meaning that any revenue exceeding expenses must be used to further the organization’s purpose.
Source: Wikipedia "Nonprofit organization" · CC BY-SA 4.0
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