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What is the Difference Between a Non-profit and Not-for-profit Organization?


While a nonprofit deals with the vital issues of the society, a not-for-profit deals with smaller groups and concentrates on hobbies and interests. For an in-depth understanding of the two, Buzzle will explain the difference between nonprofit and not-for-profit organizations.

 

Most organizations produce revenues and use them for their own purposes. Nonprofit organizations (NPOs) and not-for-profit organizations are among those that work towards proper service and earning revenues; however, the revenue earned is not used for personal gain. One of the prime misconceptions people have is that nonprofits and not-for-profits are the same. Well, in essence, let's say they are almost the same, yet there are certain subtle changes between the two. The latter is often referred to as a subset of the former in many countries. The nonprofit vs. not-for-profit comparison is enlisted in the subsequent paragraphs.

 

Nonprofit Organization

  •           It is a large group with many people involved in achieving a higher goal.
  •            Many issues that this organization targets are social and political.
  •            The money earned by NPOs is used for the betterment of the organization.
  •            A charitable organization may also be an NPO; however, the opposite is not true. An NPO does not          necessarily operate as a charity.


Non-for-profit Organization

  • It is mostly a smaller group with less number of involved participants.
  • The group mostly concentrates on hobbies, public service, and other social interests.
  • The money earned may or may not be a large amount; however, whatever is earned is put back into the organization, improving it by various means.
  •  Most of the not-for-profits are public service organizations, charities, and other voluntary businesses; in fact, apart from the profit exclusion, most not-for-profit organizations function similar to the for-profit organizations.

 


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