Definition, Meaning & Synonyms
nonprofit
noun
/nɒnˈprɒfɪt/
Definition
A nonprofit is an organization that does not operate for the purpose of making a profit. Instead, any surplus revenue is reinvested into the organization’s mission and activities.
Examples
- Many charitable organizations are classified as nonprofits.
- The local nonprofit works tirelessly to improve education in underprivileged areas.
- She volunteered at a nonprofit that provides shelter for the homeless.
Meaning
Nonprofits aim to serve the public or community interest rather than generating profits for owners or shareholders.
Synonyms
- charity
- non-governmental organization (NGO)
- nonprofit organization
- voluntary organization
