BACK TO for-profit
for-profit vs. nonprofit
for-profit vs. nonprofit: What's the difference?
A for-profit organization is one that exists for the purpose of making money. A nonprofit organization (or simply nonprofit) is an organization that exists for reasons other than making money—especially one considered to operate for the public good (a charity, for example). In the U.S., nonprofits are often tax-exempt.
[ fer-prof-it ]
- (of a business or institution) initiated or operated for the purpose of making a profit: for-profit hospitals.
[ non-prof-it ]