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A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. [ 1 ] [ 2 ] While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities, the terms are sometimes used interchangeably. [ 3 ]
Logo of the United Nations Children's Fund (UNICEF), an organization of the United Nations. A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2] not-for-profit organisation, [3] or simply a nonprofit, [a] is a non-governmental (private) legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that ...
In relation to public services, the voluntary sector is the realm of social activity undertaken by non-governmental, not for profit organizations. [1] This sector is also called the third sector (in contrast to the public sector and the private sector), community sector, and nonprofit sector. [2] "Civic sector" or "social sector" [3] are other ...
The two exempt classifications of 501(c)(3) organizations are as follows: A public charity, identified by the Internal Revenue Service (IRS) as "not a private foundation", normally receives a substantial part of its income, directly or indirectly, from the general public or from the government.
Cambia is an Australian-based global non-profit social enterprise focusing on open science, biology, innovation system reform and intellectual property. Its projects include The Lens, formerly known as Patent Lens, and the Biological Innovation for Open Society Initiative. Cambia derives its name from the Spanish verb cambiar, to change. [2]
Therefore, it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [4] [5] A mutual-benefit corporation can be non-profit or not-for-profit, but it still must pay regular corporate tax rates. A mutual benefit corporation will pay the same taxes as a regular for-profit corporation, with C corporation tax rates.
The term nonprofits research is used to describe the academic enterprise devoted to teaching and research on nonprofit organizations and non-governmental organizations (NGOs), voluntary associations, voluntarism and voluntary action, philanthropy, civil society, and related activities.
From an academic perspective, social enterprise is, for the most part, considered a sub-set of the nonprofit sector as typically they too are concerned with a purpose relating to a public good. However, these are not bound to adhere to a nonprofit legal structure, and many incorporate and operate as for-profit entities.