Question by  scott88 (11)

What is the definition of a "not for profit?"

I went to an interview and they ask what experience I have with "not for profit" organizations. What is that?


Answer by  Dean (4035)

A non-profit or NPO is a chartered business that does not distribute profits to owners or shareholers; rather, proceeds of the business are used to further the mission of the business. Churches, charities, unions, art organizations are all examples of non-profits, which are managed differently than for-profit businesses.


Answer by  hightide (131)

"Not for profit" organizations are those that don't distribute profits or surpluses from business operations to owners (shareholders). Not for profit organizations put their surpluses towards expansion of their business. Charity Foundations are the most common not for profit organizations.

You have 50 words left!