not-for-profit organization


An incorporated organization which exists for educational or charitable reasons, and from which its shareholders or trustees do not benefit financially. also called non-profit organization.

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They would not be getting any bit of money for themselves and they declared that their business was a not-for-profit organization.

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Lories life long dream was to start a not-for-profit organization to help teens with the ongoing struggle teens have with substance abuse and suicide.

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Its important when creating a not-for-profit organization that the tax rules are closely followed so that the donors don't loose their charitable contributions they have made to the organization.

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notes to the financial statement notice