Guide Note:In its most simple form, a nonprofit is an organization that does not distribute its profits to shareholders or owners. Nonprofits regularly earn a profit from their activities, but the profit is not passed on. Most commonly, nonprofits are engaged in activities designed to promote the public good.
Fast Facts:
- 1.5 million nonprofit organizations in the United States.
- 600,000 nonprofits file with the IRS each year.
- Nonprofits are not necessarily tax exempt.
- U.S. Nonprofit revenue in 2006 accounted for roughly 10% of the U.S. GDP.
- Nonprofits also act as trade unions, neighborhood associations, and even the National Football League.
