non profit organization (NPO)

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Term of the Day non profit organization (NPO) Associations, charities, cooperatives, and other voluntary organizations formed to further cultural, educational, religious, professional, or public service objectives. Their startup funding is provided by their members, trustees, or others who do not expect repayment, and who do not share in the organization's profits or losses which are retained or absorbed. Approved, incorporated, or registered NPOs are usually granted tax exemptions, and contributions to them are often tax deductible. Most non governmental organizations (NGOs) are NPOs. Also called not for profit organization. non profit organization (NPO) is in the Corporate, Commercial, & General Law subject. non profit organization (NPO) appears in the definitions of the following terms: non-profit services and for profit organization.

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