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A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. [ 1 ] [ 2 ] While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities, the terms are sometimes used interchangeably. [ 3 ]
Logo of the United Nations Children's Fund (UNICEF), an organization of the United Nations. A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2] or simply a nonprofit, [a] is a non-governmental (private) legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to ...
GreatNonprofits is a 501(c)(3) registered non-profit organization based in the United States with a website where donors, volunteers, and clients review and share their personal experiences with charitable organizations, essentially providing crowdsourced information about the reputability of these organizations.
Founded in 2015 as a non-profit AI research organization, OpenAI added the for-profit OpenAI LP entity in 2019 as a subsidiary of its non-profit, securing capital from Microsoft to fund its research.
An unincorporated association is a collective of people with common goals who have chosen to formalise their relationship, but without incorporating as a company or similar legal entity. A further requirement is that the members are not associated together for profit. This distinguishes an unincorporated association from a partnership.
A mutual-benefit nonprofit corporation or membership corporation, in the United States, is a type of nonprofit corporation chartered by a state government that exists to serve its members in ways other than obtaining and distributing profits to them. Therefore, it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [4] [5]
With the company in the process of raising new funds at a valuation somewhere north of $100 billion, the non-profit structure is proving increasingly awkward. For investors, a change means a more ...
OpenAI's history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a ...
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