What are nonprofit organizations?


Quick Answer

A nonprofit organization is any organization that does not pay out income to members or directors of the organization, and does not primarily exist to earn a profit. There are many types of nonprofit organizations, most of which exist to help people or advance research in important fields.

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What are nonprofit organizations?
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Full Answer

A nonprofit organization could be a corporation, but can also be other types of groups, like an individual enterprise or partnership. The specific type of group an organization is classified as depends on how it is formed and who is involved in the work. There are many different types of nonprofits, ranging from schools, churches, charities and other society-focused organizations, to research institutes and museums that are more culturally based.

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