Quote:
Originally Posted by luqmaninbmore
Care to elaborate? If main (legal) purpose of an organization is not to generate profits, I think it stretches the definition of 'business' to characterize it as such.
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http://www.merriam-webster.com/dictionary/business
And even from
HERE:
Quote:
NOTE: Many people would argue that a nonprofit organization is also a business organization, if they believe that a business is an organization that provides value to consumers and gets suitable value in return.
[. . .]
Nonprofit Organizations
(The following information, in large part, was developed by Putnam Barber, President of the Evergreen State Society in Seattle, Washington)
A nonprofit organization exists to provide a particular service to the community. The word "nonprofit" refers to a type of business -- one which is organized under rules that forbid the distribution of profits to owners. "Profit" in this context is a relatively technical accounting term, related to but not identical with the notion of a surplus of revenues over expenditures.
Most nonprofits businesses are organized into corporations. Most corporations are formed under the corporations laws of a particular state. Every state has provisions for forming nonprofit corporations; some permit other forms, such as unincorporated associations, trusts, etc., which may operate as nonprofit businesses on slightly (but sometimes importantly) different terms.
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If you mean for-profit vs. non-profit, then say so. Don't arbitrarily restrict commonly understood terms for no purpose other than starting an argument.
Moving on...?