Nonprofit
/ˌnɑːnˈprɒfɪt/
Definitions
- (adj.) Relating to organizations that operate for charitable, educational, or social purposes without distributing profits to owners or shareholders.
The nonprofit organization focuses on providing legal aid to underserved communities.
- (n.) An organization that uses its surplus revenues to further its goals rather than distributing them as profit or dividends.
The nonprofit registered with the IRS to receive tax-exempt status.
Forms
- nonprofits
Related terms
See also
Commentary
In legal contexts, 'nonprofit' commonly describes entities qualifying for tax-exempt status under specific regulations; precise classification affects compliance and benefits.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.