nonprofit organization

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nonprofit organization

A nonprofit organization collects donations to support local animal shelters.

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.
nonprofit organization

A nonprofit organization collects donations to support local animal shelters.

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

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