NONPROFIT ORGANIZATION Definition

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NONPROFIT ORGANIZATION is one that has committed legally not to distribute any net earnings (profits) to individuals with control over it such as members, officers, directors, or trustees. It may pay them for services rendered and goods provided. Also known as NOT-FOR-PROFIT ORGANIZATION.

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ULLAGE is the empty space present when a shipping container is not full.

TREASURY is, dependent upon usage, a. the funds of a government or institution or individual; b. the government department responsible for collecting and managing and spending public revenues; or, c. a depository (a room or building) where wealth and precious objects can be kept safely.

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