Definition

1. Noun:
   • An organization chartered for other than profit-making activities: A legal entity formed for a purpose other than generating profit for its owners or members. Its primary goal is to further a social cause or provide a public benefit, and any surplus revenues are reinvested into the organization's mission rather than distributed to shareholders.

Usage

• A nonprofit organization typically relies on donations, grants, and volunteer efforts to fund its operations.
• The term is often used to describe entities in sectors like education, healthcare, arts, and humanitarian aid.
• It is important to distinguish a nonprofit organization from a for-profit business, as their fundamental objectives differ.

Examples

• Noun:
  • The local animal shelter is a nonprofit organization that relies on community support.
  • She works for a nonprofit organization dedicated to environmental conservation.
  • Donations to a registered nonprofit organization are often tax-deductible.

Advanced Usage

• "To operate as a nonprofit organization": To function under the legal and financial structure of a nonprofit.
  • The community theater decided to incorporate and operate as a nonprofit organization to qualify for arts grants.
• "Nonprofit sector": Refers to the collective realm of all nonprofit organizations.
  • He has spent his entire career working in the nonprofit sector.

Variants and Related Words

• Nonprofit (adj/n): Often used as a shorter form meaning "nonprofit organization" or as an adjective describing such an entity.
  • She works for a nonprofit. (n)
  • It is a nonprofit theater company. (adj)
• Not-for-profit organization (n): A synonym often used interchangeably, though sometimes with subtle legal distinctions in certain regions.
• Charity (n): A type of nonprofit organization focused on philanthropic goals and aid.
• NGO (Non-Governmental Organization) (n): A specific type of nonprofit organization that is independent from government, often operating internationally.

Synonyms

• Charitable organization: An organization established for charitable purposes.
• Not-for-profit: An entity not operated for the profit of its owners.
• Voluntary association: A group of individuals who voluntarily join together for a common purpose, often nonprofit.

Related Phrases

• 501(c)(3) organization: (Specific to US tax law) A tax-exempt nonprofit organization approved by the IRS.
  • The foundation is a registered 501(c)(3) organization, so your contribution is tax-deductible.
• To have nonprofit status: To be officially recognized as a nonprofit organization by the relevant government authority.
  • After years of operating informally, they finally applied for and received nonprofit status.

Noun

1. an organization chartered for other than profit-making activities