Not-for-profit


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Not-for-profit

An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses.

Nonprofit Organization

An organization that operates as if it were a business but does not seek a profit. Common examples of nonprofits include charities, private schools, and think tanks. Nonprofits do not pay taxes; donations to many are tax-deductible, at least up to certain limits. In order to qualify for this status, however, a nonprofit must register with the IRS, under section 501(c) of the tax code. See also: 403(b).

Not-for-profit.

A not-for-profit organization pays taxes and may make a profit, but those profits are not distributed to its owners or members.

Private clubs, sports organizations, political organizations, and advocacy groups are examples of not-for-profit institutions. Contributions to these not-for-profits are not tax deductible.

Until it became a publicly traded company in 2006, the New York Stock Exchange was a not-for-profit membership association.

References in periodicals archive ?
NetSuite is the first cloud-based financial solution to be available to Australian not-for-profit organisations through Connecting Up, and TribeHR and LightCMS are the first cloud-based human capital management and content management systems respectively to be made available through Connecting Up.
Over 50,000 not-for-profit corporations contribute more than $50 billion annually to Ontario s economy, and about 16 per cent of the Ontario workforce is employed in the not-for-profit sector.
For more information on A Scorecard for Not-For-Profit Organizations, or if you have a group that could benefit from this presentation, contact Tony Eufinger, manager, public relations at teufinger@ohio-cpa.
Sometimes operating as a not-for-profit company isn't quite as clear as the title may suggest,'' Hull said.
With value-engineered expenses and an objective operations analysis, a not-for-profit can enjoy positive operating profit margins and significant cash flow.
It began as a not-for-profit, converted to a mutual benefit company, acquired other not-for-profits, then demutualized and raised $2.
Many of the issues raised by the CMA lawsuit, such as utilization review, clinical practice guidelines, drug formularies, and the like take on a different flavor when they are part of an integrated, closed-panel, not-for-profit HMO such as Kaiser Health Plan.
Our white theater colleagues have failed to comprehend that "prejudice can be both systemic and institutionalized" (Paul and Schley 1), and the not-for-profit theater field manifests both in magnificent proportions.
The primary purpose of financial statements is to provide relevant information to meet the common interest of donors, members, creditors and others who provide resources to not-for-profit organizations.
New accounting standards released last summer by the Financial Accounting Standards Board (FASB) are significantly changing the way not-for-profit organizations account for charitable contributions.
OUR ACCURACY is rarely questioned," says the chief technologist in the lab of a large not-for-profit hospital in suburban Tennessee.
3M * ONE-TO-THREE COLOR, GOVERNMENT, ASSOCIATIONS, NOT-FOR-PROFIT