Related words
acquisition
noun
business a company that is bought by another company
anchor
noun
business an important shop or business that attracts other businesses to the area where it is
blue chip
noun
a company or investment that makes a lot of money and is safe to invest in
business
noun
an organization that buys or sells products or services for money. This word often refers to a small organization that is owned and run by one person or a few people, while company can also refer to large organizations
cartel
noun
a group of people or companies who all agree to sell something at the same price so that they can all make profits without competing with one another
giant
noun
mainly journalism a very large and successful company
group
noun
business an organization that consists of several companies or other institutions: can be followed by a singular or plural verb
holding company
noun
a company that owns the majority of the shares in another company
Inc.
abbreviation
Incorporated: used in the US after the name of a large company, or a group of companies working together under one name
limited company
noun
a company whose owners are legally responsible for only a limited amount of its debts
LLC
abbreviation
business Limited Liability Company: a type of company whose owners have limited liability (=they are not legally responsible for all losses)
Ltd
abbreviation
Limited: used after the name of some companies
market leader
noun
a company that sells more of its products than any other company of its type
monopolist
noun
a company that has a monopoly
one-man band
noun
an organization in which one person does everything
plc
noun
British public limited company: a company in the UK that has shares that ordinary people can buy
predator
noun
business a company that tries to take control of other companies
private company
noun
a company owned by a person or group of people who do not sell shares (=the right to share profits) to the public
private practice
noun
a business that is managed and owned by an individual professional person such as a doctor, lawyer, or dentist
pty
abbreviation
proprietary: used in Australia, New Zealand, and South Africa after the name of a company
public company
noun
a company whose shares you can buy on the stock exchange
public limited company
noun
in the UK, a company in which people can invest their money. It has plc at the end of its name.
Pvt.
abbreviation
Indian English used after the names of some companies to show that they are privately owned
sole trader
noun
a person who owns and runs a business on their own rather than with a partner or partners
suitor
noun
mainly journalism a company that wants to buy another company
zombie company
noun
journalism a firm that is making enough money to pay the interest on its debts but would fail if interest rates went up because it is not functioning as a business
What is a nonprofit organization (NPO)?
A nonprofit organization (NPO) is one that is not driven by profit but by dedication to a given cause that is the target of all income beyond what it takes to run the organization.
Because of this, NPOs receive tax-exempt status from the federal government, meaning they don't have to pay income tax.
Nonprofit organizations are often used for trusts, cooperatives, advocacy, charity, environmental and religious groups. Many, but not all, NPOs have paid staff in management positions; almost all use volunteers.
Unlike for-profit businesses, NPOs have no owners and any surplus profits after operating expenses are used to further its goals instead of being distributed between members or employees of the organization.
What is the difference between an NPO and a not-for-profit organization?
Nonprofit and not-for-profit are both widely used to refer to NPOs but there are subtle differences.
The United States Internal Revenue Service (IRS), for example, uses not-for-profit to refer to activities like hobbies in which revenues are not involved.
What is the difference between an NPO and NGO?
The terms NPO and NGO (non-governmental organization) are also often used interchangeably but they have some key differences.
NGOs are separate from the government and require no government council but depend on the government for funding by means of government grants.
However, most NGOs are also nonprofit organizations and thus have nonprofit status.
How does an organization qualify for NPO status?
For a nonprofit corporation to qualify as a government-recognized and tax-exempt organization, it has to fulfill conditions set out by the internal revenue code. In the United States, the IRS determines the validity and tax status of NPOs.
These qualifications include the following:
- The organization must be created for religious, charitable, scientific, literary or educational purposes.
- The organization cannot be created for the benefit of any individual or private interests.
- The organization must have a governing body that is democratically elected.
- The organization must have bylaws in place that state its purpose and how it will be run.
Organizations that wish to be granted tax exemption must attest to these conditions and file the proper paperwork with the IRS.
What are some common use cases for NPOs?
There are many use cases for nonprofit organizations. Some examples include the following:
- advocacy organizations campaigning for public safety, social welfare, political change or some other social cause;
- charitable organizations working to alleviate poverty or provide relief in times of natural disasters;
- educational institutions such as schools and universities;
- environmental groups working to protect the planet and its resources; and
- religious organizations dedicated to spreading their faith.
Some of the more recognizable types of nonprofit organizations include the American Red Cross, Amnesty International and the United Way.
What is the benefit of NPOs to society?
Nonprofit organizations play an important role in society by working to improve the lives of others and the public good. They are often at the forefront of social change and provide much-needed services to those who are most vulnerable.
NPOs provide a way for individuals to pool their resources and skills to achieve common goals. They also offer employees an opportunity to use their talents for good, without being motivated solely by profit.
NPOs play an important role in democracy by holding powerful institutions and individuals accountable. They also help to ensure that everyone has a voice in the decisions that affect their lives.
In short, nonprofit organizations are a vital part of society as these types of organizations work to make the world a better place for all.
What are the challenges that NPOs face?
They often rely on the dedication of employees who believe in their cause because it's hard for them to compete with private-sector wages in lower-level and mid-management positions.
However, executive salaries are often quite high as a means of competing with equivalent positions in the private sector.
Fundraising and sponsorship can be an issue for nonprofits as well, as they often rely on external sources, such as donations.
Scrupulous accounting, transparency and accountability are essential to the continuation of operations, as mismanaged or misdirected funds could result in the loss of funding from both public and private sources and loss of status.
See also: HIMSS, ISSA, National Quality Forum, Cloud Security Alliance, Creative Commons, eHealth Initiative, ANSI, Center for Internet Security, IANA