Quote:
Originally Posted by PornoMonster
Is there a difference between not for profit and non profit?
I know a few people running non profit businesses and they live like Kings...
|
They are pretty much the same thing. The main difference is a nonprofit is a typically an organization that operates with the intent of not making a profit. Not for profit tends to refer to an activity.
For example. A hospital would be a nonprofit hospital while you might refer to healthcare as a whole as a not for profit industry since it does call out a specific group or organization.
I think there are other subtle differences for example a company that builds a product with the intent of making a profit might offer services or products to some people on a not for profit basis.
The problem with many nonprofits is that there isn't a hard and fast way that they have to spend their money, they just can't make a profit. This is why the people that run charities or some people in the nonprofit world make a lot of money because they pay themselves a handsome salary instead of taking part of the companies profit.