- A Not-for-Profit Organization (as defined by the Canada Revenue Agency) is a club, society, or association that is organized and operated solely for: social welfare, civic improvement, pleasure or recreation, or any other purpose except profit. Examples include churches and universities.
charitable, profitless, non-profit
Related Terms and Acronyms
- Audit — Definition,
- An examination of a taxpayer's income tax return or other transactions bearing tax consequences. Audits range from a simple letter from the agency to a detailed review of individual or business tax filings and records.
- Entrepreneur — Definition,
- A person who starts and manages a business.
- Income Statement — Definition,
- Also known as the profit and loss statement or P&L, enables you to calculate your company's pre-tax profits by subtracting total expenses from total revenues.