What is meaning of not for profit organisation

Not for profit organisations are unlike a sole proprietor, these organisations do not operate with the prime motive of earning profits. These run with the basic motive of serving the society. In this way, these organisations render services to enhance the society’s welfare. A few examples of NPOs are charitable trusts, hospitals, schools, temples, social clubs and sports clubs. These organisations are managed and governed by the person(s) who are known as trustees.

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