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An entity whose profits (excess of income over expenses) are used for its own purposes rather than returned to its members (shareholders, investors, owners) as dividends. To qualify for tax exemption, no portion of the profits of the entity may “inure” to the benefit of an individual.<\/p>\n

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An entity whose profits (excess of income over expenses) are used for its own purposes rather than returned to its members (shareholders, investors, owners) as dividends. To qualify for tax exemption, no portion of the profits of the entity may “inure” to the benefit of an individual.  <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-112722","post","type-post","status-publish","format-standard","hentry","category-n"],"yoast_head":"\nNonprofit - Definition of Nonprofit<\/title>\n<meta name=\"description\" content=\"An entity whose profits (excess of income over expenses) are used for its own purposes rather than returned to its members (shareholders, investors, owners) as dividends. 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