Nonprofit Organization
/ˌnɑnˈprɒfɪt ˌɔːrɡənaɪˈzeɪʃən/
Definitions
- (n.) An organization established for purposes other than generating profit, often exempt from certain taxes and dedicated to public benefit.
The nonprofit organization relies on donations to fund its community programs.
Forms
- nonprofit organizations
Related terms
See also
Commentary
Nonprofit organizations are often subject to specific tax laws and regulations defining their formation, operation, and reporting requirements.
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.