Charitable organization that foster cultural and social unity to achieve objectives related to public service. The initial capital investment is provided by the founding members who do not expect its repayment or to gain financially from it. NPO’s are eligible for tax exempts and the donations that they receive usually are not subject to taxes.

More On This Topic

Link to This Definition
Did you find this definition of NON PROFIT ORGANIZATION (NPO) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary