What is a non-profit organization?

Answer 1

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A nonprofit organization (abbreviated "NPO", or "non-profit" or "not-for-profit") is an organization whose primary objective is to support an issue or matter of private interest or public concern for non-commercial purposes. Nonprofits may be involved in an innumerable range of areas relating to the arts, charities, early childhood education, politics, religion, research, sports or some other endeavor.

Nonprofit organizations often are charities or service organizations; they may be organized as a not-for-profit corporation or as a trust, a cooperative, or they may be purely informal.

Sometimes they are also called foundations, or endowments that have large stock funds.

Most foundations give out grants to other nonprofit organizations, or fellowships and direct grants to participants. However, the name foundations may be used by any not-for-profit corporation -- even volunteer organizations or grass roots groups.

In many countries applying Germanic or Nordic law (e.g. Germany, Sweden, Finland), nonprofit organizations typically are voluntary associations, although some have a corporate structure (e.g. housing cooperatives). A voluntary association usually is founded upon a principle of one person–-one vote.

Answer 2

Organization which is form for the public service and not intend to make the profit is non-profit organization

Answer 3

An org. which functions with the motive to do service to its members or scoiety and not to earn profit.
Its main aim is to survive (break even ) and serve (function soundly).

Such organisations have their accounts finalised through the Income and expenditure method.
The excess of income over expenditure is called surplus and not as profit.

Answer 4

it is an organization that provides a service without banking on it. all the workers are most likely volunteers and the money they collect go to their service and not to a bank account
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