Explain not for profit organization

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1187287

2026-08-16 23:25

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An organization that does not pay its employees and gives all profit (after taxes and other miscellaneous expenses) back to charity. An example would be a thrift store that relies upon donations for items to be sold. The workers in such stores are volunteers, but are governed by a board of directors, and possible a paid manager.

An organization like a school band that depends upon public donations for field trips and trips to music competitions. These organizations are not always fully funded by their respective school districts in may cases.

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