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Nonprofit organization
Organization operated for a collective benefit
Nonprofit organization
A nonprofit organization (NPO), also spelled non-profit organisation in British English and known as a non-business entity, nonprofit institution, not-for-profit organization (NFPO), or simply nonprofit, is a non-governmental entity that operates for a collective, public, or social benefit, rather than to generate profit for private owners. Nonprofit organizations are subject to a non-distribution constraint, meaning that any revenue exceeding expenses must be used to further the organization’s purpose. Depending on local laws, nonprofits may include charities, political organizations, schools, hospitals, business associations, churches, foundations, social clubs, and cooperatives. In some countries nonprofit entities can obtain tax-exempt status and may also qualify to receive tax-deductible contributions; however, an organization can still be a nonprofit without having tax exemption. Key aspects of nonprofit organizations are their ability to fulfill their mission with respect to accountability...
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