By DeVry University
March 3, 2022
5 min read
March 3, 2022
5 min read
You may have heard the terms “tax exempt,” “nonprofit” or “not-for-profit” used interchangeably to describe organizations that work for the public good. While either term could describe organizations operating under a range of exemptions in the IRS tax code and neither return profits to individual owners or shareholders in the way that for-profit organizations do, they differ in several important ways. In this article, we’ll start by defining nonprofit vs. not-for-profit organizations and explaining the major differences between them.
The National Council of Nonprofits offers more useful information about charitable nonprofits and what they do, as well as some common misconceptions about nonprofits.
Filter Blog Post Category