Organisation that is set up for a ‘purpose’ other than making a profit.
Some or all of the profits are used for good (either to do more of the good
stuff that the organisation does or maybe offer cheaper prices to those who
would not be able to afford full price) rather than being paid to shareholders
or bonuses to directors. Being a not-for-profit organisation does not mean that
you can’t pay yourself. It defines an organisation by what they intend to do
with their profits.