A nonprofit organization (US and UK), or not-for-profit organization (UK and others), often called an NPO or simply a nonprofit, also non-commercial organization(Russia and CIS) often called an NCO, is an organization that uses surplus revenues to achieve its goals rather than distributing them as profit or dividends.
Why this Matters
For My Organization
Organizations that qualify as public charities under Internal Revenue Code 501(c)(3) are eligible for federal exemption from payment of corporate income tax.
For New Orleans
Nonprofit organizations provide essential public services, advocate for public policy and social change, and help form and sustain the networks that strengthen the bonds of communities. While the role of businesses and non-profits are becoming more alike, non-profits can play a unique role in protecting the public interest.