Tag: not-for-profit-organizations

There is no single definition of a Public-Private Partnership, often referred to as P3. The Government Accountability Office defines a public-private partnership as “a contractual arrangement that is formed between public and private-sector partners. These arrangements typically involve a government agency contracting with a private partner to renovate, construct, operate, maintain, and/or manage a facility…

The terms “nonprofit” and “not-for-profit” are often used interchangeably, but there are subtle differences between them, especially in the eyes of the IRS. Here’s a breakdown: Nonprofit: Not-for-profit: In short, both types of organizations don’t distribute profits to individuals, but the key difference lies in their mission and target audience: Foundations: It’s important to note…