What Does Not for Profit Mean?

Not-for-profit organizations are those that do not make a profit for their owners. A not-for-profit organization spends all of the money it earns or receives on achieving its goals and maintaining its operations. Nonprofit organizations are often tax-exempt charities or other forms of public service organizations, and as such, they are not compelled to pay more taxes.
Income is not given to the members, directors, or executives of a nonprofit organization. Non-stock companies are another type of nonprofit corporation. The American Red Cross, United Way, and the Salvation Army are examples of well-known nonprofit organizations.