▸ Chapter 3Nonprofit Organizations Law Generally
Originally published as
Nonprofit Organizations Law Generally,in The Bruce R. Hopkins Nonprofit Law Library: Essential Questions and Answers. Copyright © 2013 by John Wiley & Sons. Reprinted with permission.
Nonprofit law basics
1.1 What is a nonprofit organization?
The term nonprofit organization is somewhat misleading; regrettably, the English language lacks a better one. It does not mean an organization that cannot earn a profit. Many nonprofit organizations are realizing profits, in the sense of revenues exceeding expenses. Colleges and universities exemplify this point. Using data for institutions’ tax years ending in 2006, the average ...
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