nonprofit status
Nonprofit status refers to a designation given to organizations that operate for purposes other than making a profit. These organizations often focus on social, educational, charitable, or religious missions. In many countries, including the United States, nonprofits can apply for tax-exempt status, allowing them to receive donations that are tax-deductible for the donor.
To qualify for nonprofit status, an organization must meet specific criteria set by the government, such as being organized for a public benefit and not distributing profits to owners or shareholders. This status helps nonprofits access funding, grants, and other resources to support their missions and serve their communities effectively.