Nonprofit
A corporation or an association that conducts business for the benefit of the general public without shareholders
and without a profit motive.
- cannot operate for profit (cannot distribute corporate income to shareholders)
- funds acquired must stay within the corporate accounts to pay for reasonable salaries,
expenses, and the activities of the corporation.
- Salaries are not considered personal benefits because they are necessary for the operation of the corporation.
http://legal-dictionary.thefreedictionary.com/Non-profit+organization
NGOs
Are legally constituted corporations created by natural or legal people that operate
independently from any form of government.
- organizations that are not a part of a government and are not conventional for-profit businesses
- In the cases in which NGOs are funded totally or partially by governments, the NGO maintains its nongovernmental
status by excluding government representatives from membership in the organization.
http://encyclopedia.thefreedictionary.com/Non-government+organisation
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