What Is A Non-Profit Organization?

This Excerpt is from FoundationList.Org. The entire article can be found here: CLICK ME

A nonprofit organization or foundation (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is dedicated to furthering a particular social cause or advocating for a shared point of view. In summation, it is a business/corporation that has been given tax-exempt status by the Internal Revenue Service (IRS) because the further a religious, scientific, charitable, educational, literary, public safety or cruelty-prevention mission or area of work. an organization needs to request 501(c) prior to operating with a tax exemption.

The Definition of “Nonprofit”

The term is meant to describe a nonprofit organization not operating primarily to make a profit. Instead it an organization whose mission focuses on furthering a social cause or a shared goal or mission. People use the term “nonprofit” to describe all of the different types of NPO’s and NFPO’s widely. There are actually about three dozen different types of nonprofit that congress has created.