Definition

1. Noun:
   • An organization chartered for other than profit-making activities: A legal entity, such as a charity, foundation, or association, whose primary goal is to support a social cause, provide a public benefit, or advance a mission, rather than to generate profit for owners or shareholders. Any surplus revenue is reinvested into the organization's objectives.

Usage

• The term "not-for-profit" is used to describe the legal and operational status of an organization. It emphasizes that the organization's purpose is not financial gain.
• It is often used interchangeably with "nonprofit" or "non-profit organization (NPO)" in general contexts, though specific legal definitions can vary by jurisdiction.

Examples

• Noun:
  • The local animal shelter is a not-for-profit that relies on donations and volunteers.
  • She decided to work for a not-for-profit dedicated to environmental education.
  • Donations to registered not-for-profits are often tax-deductible.

Advanced Usage

• "To operate on a not-for-profit basis": Describes the fundamental principle of an organization's financial model.
  • The community theater operates on a not-for-profit basis, using all ticket revenue to fund future productions.

Variants and Related Words

• Nonprofit (or non-profit) (noun/adjective): A very common synonym for "not-for-profit" organization.
  • The museum is a nonprofit institution.
• Charity (noun): A type of not-for-profit organization focused on philanthropic goals and aid.
• NGO (Non-Governmental Organization) (noun): A type of not-for-profit organization that is independent from government, often operating internationally.

Synonyms

• Nonprofit organization (NPO)
• Charitable organization
• Mission-driven organization

Related Phrases

• Tax-exempt status: A legal designation often granted to qualified not-for-profit organizations, relieving them from certain taxes.
  • The foundation applied for tax-exempt status as a public not-for-profit.
• 501(c)(3) organization: A specific category of tax-exempt not-for-profit in the United States (e.g., charitable, religious, educational).
  • Many U.S. charities are registered as 501(c)(3) not-for-profits.

Noun

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