Define Non-for-Profit Organization.
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The Non-for-Profit Organization is an organization which does not intend to make any profit and are exempted from paying tax. These organizations are basically formed for religious, educational, cultural, charitable, public service to the public or special cause. The Non-for-Profit organization is also known as a Non-Profit Organization.
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Not-for-profit organizations are types of organizations that do not earn profits for its owners. All of the money earned by or donated to a not-for-profit organization is used in pursuing the organization's objectives and keeping it running.
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