A nonprofit is a type of organization that uses its resources for the public good and does not operate for the purpose of making a profit. It is typically organized as a corporation, but operates differently from for-profit businesses in several ways, such as being tax-exempt, having a specific mission, and governed by a board of directors. Nonprofits may generate revenue through donations, grants, and fees for services, but these funds must be used to further the organization’s mission and cannot be distributed to owners or shareholders as profits.
How Does A Nonprofit Work?
