A Not for Profit Organisation is an organisation that is not operated for the profit, personal gain, or any other benefit of particular people. The Not-for-Profit Organisation can be operated by its members and communities, the people who run the organisation. The Not-for-Profit Organisation can make profit, but any profit made must be applied for the organisation’s purpose, and can retain profits as long as there is for a genuine reason and purpose.
Related Definitions in the Project: The Business Organisation
