• 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.

non-profit, charitable, profitless

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.
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