A not-for-profit organisation (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 nonprofit 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.
