Non-profit organization Definition
A non-profit organization (often called "non-profit org" or simply "non-profit" or "not-for-profit") may be a formal incorporated not-for-profit corporation that does not have shareholders, though it may have members and issue membership certificates or require member loans. It may also be a trust or association of members. The organization may be controlled by its members who elect the Board of Directors or Board of Trustees. Not-for-profit organizations may have a delegate structure to allow for the representation of groups or corporations as members. It may be a non-membership organization and the board of directors may elect its own successors. It may have a tax exempt status or it may be a de-facto group of individuals operating for a common purpose.