Simply put, a nonprofit is a tax-exempt organization that benefits the broad public interest.
A nonprofit organization, often referred to as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity set up and run for the benefit of the community, the public, or society as a whole, as opposed to a business that operates to make money for its owners.
The American Red Cross and UNICEF are two examples of these groups. Contrarily, not-for-profit organizations concentrate on smaller-scale operations inside a society or community, and they prioritize things like religion, education, science, and public safety.
Common examples of nonprofit organizations include public charities, foundations, social advocacy organizations, and business associations.
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