Section 1401 (21)

(21) Nonprofit

  • The term “nonprofit”, as applied to a school, agency, organization, or institution, means a school, agency, organization, or institution owned and operated by 1 or more nonprofit corporations or associations no part of the net earnings of which inures, or may lawfully inure, to the benefit of any private shareholder or individual.
  • Severe Discrepancy
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    Last modified on November 7, 2019