Any society, association or organisation: not carried on for the profit or gain of any member, and whose rules do not allow money, property, or any other benefits to be distributed to any of its members.
A legally established body- corporate or unincorporated- whose income (including any surplus or profit) is used solely for the benefit of that body and its operation. The term "not-for-profit" has the same meaning.
(Sometimes "Not-for-profit".) Organisations legally established for purposes related to public welfare, which confers on them a privileged tax status in return for being "non profit distributing" â€“ i.e. any financial surplus cannot be taken out as "profit" and distributed to shareholders (or stakeholders), but must be applied to those same objectives for which the organisation was legally constituted. In some countries it is, however, legally possible for charities and "non profits" to operate trading subsidiaries whose profit is covenanted back to the originating charity to support its legal "objects".