What does non-profit mean??

Question

Just a question, I was wondering and i want to know what exactly it means!!

Answer 1

It means they dont get any money. So if it is a non profit organization they dont get the money for themselves they might get it away to like a charity or something.

Answer 2

A non-profit organization (abbreviated "NPO", also "not-for-profit") is a legally constituted organization whose objective is to support or engage in activities of public or private interest without any commercial or monetary profit. NPOs are active in the environment, humanitarian aid, animal protection, education, the arts, social issues, charities, health care, politics, religion, research, sports or other endeavors.

Above source is from:

http://en.wikipedia.org/wiki/Non-profit

The best example, I wish to quote over here is: Wikipedia.org  - is a non-profit organisation.

Advantage for Individuals, Companies: Donations made to non-profit organisations are exempted from Tax, You can claim Tax rebate on them when your filing Tax at the year end.

Answer 3

they don't make a profit for themselves