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Whats the difference between a non-profit and for-profit business?

April 26, 2017Business for-profit non-profit

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Whats the difference between a non-profit and for-profit business?

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A for-profit organization generates a profit and divides the profit amongst the shareholders (owners). A non-profit organization can generate a profits but the IRS prohibits the non-profit from dividing its profit amongst shareholders, founders, or employees. Additionally, the donations made to qualified non-profit organization are tax deductible.