Nonprofit organizations pursue “charitable, religious, educational, or scientific” purposes, according to the IRS. They cannot make a profit, and must use any extra funding toward their mission or purpose. The nonprofit sector is incredibly diverse, comprising 1.3 million different organizations in the U.S. Some nonprofits you may have heard of include Habitat for Humanity, the Sierra Club, Save the Children, the Metropolitan Museum of Art, the American Red Cross, religious organizations, and arts organizations.
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