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Business Law

What is a Nonprofit Organization?

ByLexine Machucaon July 28, 2017|Business Law,What is

Nonprofit Organization

A nonprofit organization serves public or mutual benefits and interests. Being a nonprofit does not mean that the organization does not generate profit, but simply that it doesn’t generate revenue for the purpose of harvesting income. They typically serve a scientific, religious, educational, or charitable purpose and, with recognition by the IRS, are tax-exempt. Nonprofits…

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