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not-for-profit definition - finance
An organization that exists to fulfill a charitable, educational, or humanitarian purpose instead of making a profit. These organizations are exempt from paying sales and income tax, unless they undertake profit-making activities that are extensive enough to risk their tax-free status. Donations to not-for-profit corporations are tax deductible for the donor. Also called nonprofit.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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