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Nonprofit Organization
(redirected from Not-for-profits)

   Also found in: Dictionary/thesaurus, Wikipedia 0.01 sec.
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).


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Participants came from all over New Hampshire and represented governmental entities, municipalities, not-for-profits and a host of folks hoping to find a piece of the economic stimulus pie provided by the American Recovery and Reinvestment Act of 2009.
An alternative approach, exemplified at least in part by Saskatchewan's Not-Profit Corporations Act 1995, establishes categories of not-for-profits and applies different rules depending on what category a group falls in.
In addition, many not-for-profits depend on volunteer leadership that lacks any audit expertise at all, let alone an actual audit committee or a professional internal auditor.
 
 
 
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