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This is another pair of terms I tend to use interchangeably, but I don't think they mean the same thing. I do know that "non-profit" status can apply to charities, and other organizations, like credit unions for example, are "not-for-profit," but the rest of my understanding is fuzzy. Thanks in advance! |
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I think I tracked down an answer for this one. The distinction is whether the group has a charter, or a legal existence that is separate from its members. Non-profit organizations are usually chartered, while not-for-profit organizations usually don't have a charter. |
