organization operated for a collective benefit
(Redirected from Nonprofit)
A nonprofit organization (NPO, also spelled nonprofit organisation) is an organization that uses surplus revenues to achieve its goals rather than distributing them as profit or dividends. Although nonprofit organizations are permitted to generate surplus revenues, they must be retained by the organization for its self-preservation, expansion, or plans. Designation as a nonprofit does not mean that the organization does not intend to make a profit, but rather that the organization has no owners and that the funds realised in the operation of the organization will not be used to benefit any owners. The extent to which an NPO can generate surplus revenues may be constrained or use of surplus revenues may be restricted.
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- I don't think that corporations are these big bogeymen that a lot of people paint them to be. … A corporation is a group of people, and if you want to come together for profit or nonprofit, that's your business—whatever you want to do.
- Krist Novoselic, interviewed by Nick Gillespie, "Nirvana's Krist Novoselic on Punk, Politics, & Why He Dumped the Dems", ReasonTV (19 June 2014), 15:30–15:37, 17:10–17:20.