Not-for-profit in the context of "National Rural Electric Cooperative Association"

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⭐ Core Definition: Not-for-profit

A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives.

While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities, the terms are sometimes used interchangeably. An NFPO must be differentiated from a NPO as they are not formed explicitly for the public good as an NPO must be, and NFPOs are considered "recreational organizations", meaning that they do not operate with the goal of generating revenue as opposed to NPOs.

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👉 Not-for-profit in the context of National Rural Electric Cooperative Association

The National Rural Electric Cooperative Association (NRECA) represents the interests of over 900 electric cooperatives in the United States. Cooperatives are not-for-profit and are owned by their membership. Founded in 1942, NRECA unites the country's generation, transmission, and distribution cooperatives found in 47 states, serving over 40 million people. It is headquartered in Arlington, Virginia, and since 2016 its CEO has been former U.S. Congressman Jim Matheson.

Electric cooperatives serve 12 percent of the nation's population, yet own 42 percent of America's distribution lines covering three-quarters of the country. Currently, over 90% of electric cooperatives include renewable generation in their portfolios, receiving 11 percent of their total power from renewable sources compared to 8 percent for the entire utility sector.

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Not-for-profit in the context of Cultural policy

Cultural policy is the government actions, laws and programs that regulate, protect, encourage and financially (or otherwise) support activities related to the arts and creative sectors, such as painting, sculpture, music, dance, literature, and filmmaking, among others and culture, which may involve activities related to language, heritage and diversity. The idea of cultural policy was developed at UNESCO in the 1960s. Generally, this involves governments setting in place processes, legal classifications, regulations, legislation and institutions (e.g., galleries, museums, libraries, opera houses, etc.) which promote and facilitate cultural diversity and creative expressions in a range of art forms and creative activities. Cultural policies vary from one country to another, but generally they aim to improve the accessibility of arts and creative activities to citizens and promote the artistic, musical, ethnic, sociolinguistic, literary and other expressions of all people in a country. In some countries, especially since the 1970s, there is an emphasis on supporting the culture of Indigenous peoples and marginalized communities and ensuring that cultural industries (e.g., filmmaking or TV production) are representative of a country's diverse cultural heritage and ethnic and linguistic demographics.

Cultural policy can be done at a nation-state level, at a sub-national level (e.g., U.S. states or Canadian provinces), at a regional level or at a municipal level (e.g., a city government creating a museum or arts centre). Examples of cultural policy-making at the nation-state level could include anything from funding music education or theatre programs at little to no cost, to hosting corporate-sponsored art exhibitions in a government museum, to establishing legal codes (such as the U.S. Internal Revenue Service's 501(c)(3) tax designation for not-for-profit enterprises) and creating political institutions (such as the various ministries of culture and departments of culture and the National Endowment for the Humanities and the National Endowment for the Arts in the United States), arts granting councils, and cultural institutions such as galleries and museums. Similar significant organisations in the United Kingdom include the Department for Culture, Media and Sport (DCMS), and Arts Council England.

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Not-for-profit in the context of Project Management Institute

The Project Management Institute (PMI, legally Project Management Institute, Inc.) is a U.S.-based not-for-profit professional organization for project management.

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Not-for-profit in the context of Health insurance

Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among many individuals. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization, such as a government agency, private business, or not-for-profit entity.

According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment".

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Not-for-profit in the context of Director-general

A director general, general director or director-general (plural: directors general, general directors, directors-general, director generals or director-generals) is a senior executive officer, often the chief executive officer, within a governmental, statutory, NGO, third sector or not-for-profit institution. The term is commonly used in many countries worldwide, but with various meanings.

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Not-for-profit in the context of Market production

In a general sense, market production refers to the production of a product or service which is intended for sale at a money-price in a market. The product or service in principle has to be tradable for money.

However, in national accounts the term has a more specific meaning, because many producing organizations exist in the economy which either do not produce for any distinct market, or which partly produce for the market, and partly don't. These are non-commercial or partly commercial organizations, which can be mainly self-funded, but not-for-profit, or mainly funded by sources other than their own revenue. Statisticians therefore have to define "market production" much more exactly, in order to be able to separate out market production in a consistent way, and distinguish it from non-market production. If they would be unable to do so, they would be unable to measure market production in a meaningful and consistent way.

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